Do you hink the Accountant has truly commemorative the cause on the mortgage? Give deduce for your response. 7. Write down the ocean features of Partnership. 8. When does the insufficiency for valuation of internally generated charity originate? Y IT tne aggregate 0T super pront Is negatlve, wnat does It Inalca e 10. Prithvi is promoteted to the joint-attention and the charity he was to produce in is Rs. 50, 000. But, he is not in a position to produce in the charity. The recitalant has commemorative an initiation in the works of recital debiting 'Goodobtain Account' and crediting 'Sacrificing Partner's Important Account'.
Do you gard, he has commemorative the initiation truly? Give deduces for your response. 11. X and Y are distributers sharing give-backs in the pertinency of 3:2. Z Joins for 1/6 th portion-out in the floating matter on 1st April 2011. Z was loving answer-for of Rs. 48,000 per annum but unfortunately Z died on 1 st July 2011. Emolument during the floating year to be accrued on the similar layer as in the former year. Emolument earned during the year was Rs. Calculate the aggregate of shortcoming borne by X and Y. 3 Marks 12. Write down the stipulations ry in the nonproduction of Joint-attention Agreement. 3 Marks 13. X, Y and Z are distributers sharing emolument equivalent.
X prepare constantly Rs. ,000 at the commencement of whole month for six months ended 30th September 2011. Y prepare constantly Rs. 4,000 at the end of whole month for six months ended 30th September 2011. Z prepare constantly Rs. 4,000 at the intermediate of whole month for six months ended 30 th September 2011. Calculate the cause on drawings for X, Y and Z at 5%p. a. 3 Marks 14. Write down three differences betwixt drawings athwart emolument and drawings athwart important. 3 Marks 15. The mediocre emolument of the unwandering is Rs. The aggregate corporeal possessions in the unwandering are Rs. 14, 00,000 and without liabilities are Rs.
In the similar sign of usiness, the usual rate of give-back is 10% of the important assiduous. Calculate the appreciate of charity by Capitalisation of Super Emolument Method. 4 Marks 16. A and B are distributers in a unwandering. Their relative important subsidys are Rs. 3, 00,000 and Rs. and their emolument sharing pertinency is 3:2. Immediately behindcited the allocation of Rs. 80, 000 as emolument for the year ended 31st bait 2011, it was discovered that in arriving at the emolument of 2010-11 the behindcited two items were ignored: i. Outstanding expenses of Rs. 7,000 and i'. Accrued cause on investment of Rs. 5,000. Pass the compound Chronicle initiation. Marks 17. Write down the differences betwixt unwandering and ambiguous important Accounts. 4 18. Mark and Pat are distributers in a matter. Their importants at the end of the year were Rs 4BUUU ana Rs 36,000 respectlvely. During tne year enaea 31st Marcn, 2 Marks drawings and Pat's drawings were Rs. 8,000 and Page 1 of 3 Rs. 12, 000 relatively. Returns anteriorly charging cause on important during the year were Rs. 32, 000. Calculate the cause on important at 5% for the year ended 31 st Bait 2011. 4 Marks 19. A and B portion-outd give-backs and losses in the pertinency of 3:2. With issue from 1st April 2011 they agreed to portion-out give-backs equivalent.
The charity of the unwandering was appreciated at Rs. 30,000. Make the insufficiencyful Chronicle initiation for the treatment of charity. What is a 'Gaining Ratio? (3+1)marks 20. A, B and C were distributers sharing give-backs in the pertinency of 5:3:2. Their Balance equivocation as at 1 st April 2012 was as follows: Balance Equivocation of A, C at 1st April, 2012 Liabilities Creditors Employees Provident funds Fund Capitals: c 70,000 50,000 Aggregate Possessions 20,000 coin 26,000 Debtors Fund Effects Building 2, 20,000 266,000 16,000 80,000 34,000 C retires on the over determination and it was agreed that: C's portion-out of Charity was Rs. ,OOO; % anticipation for questionable debts was to be made on debtors; Sundry creditors were appreciated Rs. 4, 000 over than the work appreciate. Pass insufficiencyful chronicle entries for the over transactions on C's retreat. 21 . Ram, Shyam and Gita were distributers sharing give-backs in the pertinency of 5:3:2. On 31 st Bait 2012 their Balance Equivocation showed the behindcited: Capitals: Ram 1 50,000 Shyam 125,000 Gita 75000 Workmen's Compensation shyness Important Leasehold Patents Machinery 350,000 fund 30,000 coin at sank 30,000 40,000 Gita died on August 2012. It was agreed that: l.
Goodobtain of the unwandering is to be appreciated at Rs. 1,75,OOO II. Machinery be appreciated at Rs. 1, 40,000; Patents at Rs. 40, 000; Leasehold at Rs. l, 50,000 on this determination. Ill. For the end of cautious Gita's portion-out in the give-backs of 2012-2013, the give-backs should be enthralled to bear accrued on the similar layer as in 2011- 2012 which were Rs. 75,OOO Prepare Gita's Important Recital and Revaluation Account. 6 marks 22. X and Y are in joint-attention sharing give-backs and losses in the pertinency of 3:2. The importants of X and Y fostering behindcited the compounds are Rs. 80, 000 and Rs. 0, 000 relatively. They promote Z as a distributer on his subsidy of Rs. 35,000 as important for 15th portion-out of give-backs to be assumed equivalent from twain X and Y. The important recitals of old distributers are to be adjusted on the foundation of adaptation of Z's important to his portion-out in the matter. Calculate the aggregate of explicit coin to be hired off or brought in by the old distributers for the end. 6 marks 23. John and David were distributers in a unwandering supplying discipline equal. They portion-out give-backs in the pertinency of 4:3. Their important as on 1st April 2012 were and Rs. 50,000 relatively.
On this determination John suggested David to set-out supplying low consume discipline equals also to the students who befit to low proceeds bunch and bear been dmitted to the peculiar disciplines of the city as per the anticipation of Rights to Education Act 2009. David agreed and requested to promote his confidant Sita, a visually handicapped unassiduous individual into the unwandering; nevertheless Sita obtain not assist any important. John agrees to it. They were in insufficiency of over important. John accordingly persuaded a deep confidant of his, All, who Joined them to be a distributer. Ali assistd Rs. 7, 00,000 in coin. Delivery van of Rs. 2,75,OOO and effects of Rs. 25,000 as his important.