The document discusses fund flow statements, including their meaning, objectives, and preparation. It provides examples of solutions to statements of changes in working capital and fund flow statements. Key points covered include:
- A fund flow statement explains the movement of funds and working capital during an accounting period.
- It shows how resources were obtained and used, the results of financial management, and how business expansion was financed.
- Preparing it involves scheduling changes in working capital accounts and determining the fund from operations using an adjusted income statement.
- The examples show statements of changes in working capital, working notes, and the completed fund flow statements for various periods.
The document discusses the adjustment of capital accounts when admitting a new partner to a firm. It provides examples of adjusting capital accounts on the basis of the new partner's capital account or the existing partners' capital accounts. It also includes examples of journal entries for admitting a new partner when goodwill is involved and assets are revalued or reallocated between partners. The key information is how to account for changes to partners' capital accounts when admitting a new partner to the business in accordance with any terms of the new partnership agreement.
- The document discusses adjustments made when admitting a new partner to a partnership, including revaluation of assets/liabilities, transfer of reserves/accumulated profits to partner capital accounts, and treatment of goodwill.
- It provides an example where partner C contributes cash for their capital share and goodwill. Journal entries are made to record the transactions and redistribute capital balances and reserves/goodwill between the partners based on their new profit sharing ratios.
- The new capital accounts and balance sheet of the partnership after C's admission are presented.
The document discusses the classification, apportionment, and distribution of overheads. It defines overheads as business costs related to day-to-day operations that vary by industry. It outlines the steps to apportion overheads, including classification, collection, allocation, and absorption into production units. Various methods to reapportion service department overheads to production departments are also presented, including direct distribution and reciprocal methods. An example secondary distribution summary and calculation of department overhead rates based on direct wages is provided.
The document provides information about cash flow statements, including:
- Cash flow statements track the inflows and outflows of cash over a period of time for operating, investing, and financing activities.
- They focus on transactions that directly impact cash, explaining changes in a company's cash position between two balance sheet dates.
- The document also includes examples of completed cash flow statements using the direct method, showing calculations for net cash from operating, investing, and financing activities.
The document discusses fund flow statements, including their meaning, objectives, and preparation. It provides examples of solutions to statements of changes in working capital and fund flow statements. Key points covered include:
- A fund flow statement explains the movement of funds and working capital during an accounting period.
- It shows how resources were obtained and used, the results of financial management, and how business expansion was financed.
- Preparing it involves scheduling changes in working capital accounts and determining the fund from operations using an adjusted income statement.
- The examples show statements of changes in working capital, working notes, and the completed fund flow statements for various periods.
The document discusses the adjustment of capital accounts when admitting a new partner to a firm. It provides examples of adjusting capital accounts on the basis of the new partner's capital account or the existing partners' capital accounts. It also includes examples of journal entries for admitting a new partner when goodwill is involved and assets are revalued or reallocated between partners. The key information is how to account for changes to partners' capital accounts when admitting a new partner to the business in accordance with any terms of the new partnership agreement.
- The document discusses adjustments made when admitting a new partner to a partnership, including revaluation of assets/liabilities, transfer of reserves/accumulated profits to partner capital accounts, and treatment of goodwill.
- It provides an example where partner C contributes cash for their capital share and goodwill. Journal entries are made to record the transactions and redistribute capital balances and reserves/goodwill between the partners based on their new profit sharing ratios.
- The new capital accounts and balance sheet of the partnership after C's admission are presented.
The document discusses the classification, apportionment, and distribution of overheads. It defines overheads as business costs related to day-to-day operations that vary by industry. It outlines the steps to apportion overheads, including classification, collection, allocation, and absorption into production units. Various methods to reapportion service department overheads to production departments are also presented, including direct distribution and reciprocal methods. An example secondary distribution summary and calculation of department overhead rates based on direct wages is provided.
The document provides information about cash flow statements, including:
- Cash flow statements track the inflows and outflows of cash over a period of time for operating, investing, and financing activities.
- They focus on transactions that directly impact cash, explaining changes in a company's cash position between two balance sheet dates.
- The document also includes examples of completed cash flow statements using the direct method, showing calculations for net cash from operating, investing, and financing activities.
The document provides non-consolidated and consolidated financial statements for companies XYZ Inc. and ABC Ltd. over four years. It shows assets, liabilities, equity, revenues and expenses increasing over time. Exchange rates fluctuated between years. The financial statements indicate the companies grew in size and profitability through the four years.
Reconstruction of Companies problem with answer is discussed in this PPt.
#ReconstructionofComapnies
#Dr MamataRathi
#InternalReconstruction
#Externalreconstruction
#ReconstructionNotes
#ReconstructionBcomSY
#Accounting
#Corporate Accounting
- Investments in associates are initially recognized at cost and subsequently adjusted to recognize the investor's share of the associate's profit or loss and other comprehensive income.
- The carrying amount is reduced by any dividends received from the associate. Gains or losses on revaluation of property, plant and equipment and foreign exchange differences are also passed through to other comprehensive income.
- When an investor loses control of a subsidiary it reclassifies amounts in other comprehensive income to profit or loss or retained earnings on the same basis as if it directly disposed of the related assets or liabilities.
Beginning one year after the sublease commencement date, Mad Cow Theater will pay the City of Orlando $1,014.52 annually. Starting in the third year, the annual payment will increase to $2,029.04. The payments will be deposited into the City's Community Redevelopment Agency Fund. The fiscal impact statement analyzes the costs and revenues associated with the City subleasing property to Mad Cow Theater.
PARTNERSHIP ACCOUNTS - Adjustments after closing the accountsKalaiSelvi169
This document discusses the calculation of opening capital balances and profit distribution for three partners - Lakshman, Nagarajan, and Parthiban. It provides the opening capital amounts for each partner and calculates their share of profit based on capital ratios. Parthiban's profit share is adjusted to a minimum of Rs. 7,500 as his initial share was lower, with Lakshman compensating the difference. Appropriate accounting entries are made in the Profit & Loss Appropriation account and Partners' Capital accounts to distribute the net profit of Rs. 22,500 among the partners as per their revised profit shares.
The document discusses the evaluation of bids for two construction projects.
For the first project of adding a new gymnasium, Bidder A was selected as the lowest bidder. Alternate 2 (racquetball courts) and Alternate 4 (replacing brick exterior with metal siding) could be retained within budget.
For the second project of a new research laboratory, Bidder B was selected as the lowest bidder and could retain all additive alternates, coming in under the $5.6 million budget.
The document discusses time value of money concepts like present value, future value, present value of annuity, and future value of annuity. It provides formulas to calculate these values and includes examples showing how to apply the formulas to calculate PV, FV, PVA and FVA given cash flows, interest rates, and time periods. Sample questions are included along with step-by-step solutions demonstrating the calculations.
Silver Construction Ltd recognizes gross profit of P80,000 in 2013 and P120,000 in 2014 using the percentage-of-completion method based on costs incurred. GPC Ltd recognizes gross profit of P150,000 in 2009 on contract #3814 using the percentage-of-completion method based on costs incurred and estimated costs to complete. Masikap Construction Co recognizes gross profit of P600,000 in 2010 and P840,000 in 2011 on a fixed-price construction contract using the percentage-of-completion method based on percentage of completion and estimated total costs.
PARTNERSHIP ACCOUNTS - Profit & Loss Appropriation accountKalaiSelvi169
The document contains the solution to multiple accounting sums involving the preparation of Profit and Loss Appropriation Accounts and Capital Accounts of partners. Specifically, it provides the accounting entries to distribute profit among partners based on their profit sharing ratios, deduct interest on capital and drawings, and transfer the final balances to partners' capital accounts. The solutions show the detailed workings and calculations involved in each step of the process.
- The document contains worked examples of profit and loss appropriation accounts and current accounts for partnerships with guaranteed partners.
- It allocates profits between partners based on their capital ratios and guarantees minimum profit shares for some partners.
- Any shortfall between the guaranteed amount and the partner's share based on capital ratio is made up from the other partners' shares.
This document outlines the business plan and financial projections for a proposed summer camp. It includes startup expenses totaling over $1 million. Revenue projections assume 16 campers per week in year 1, growing to 32 in year 2 and 64 in year 3. Monthly operating costs are estimated at $19,000 in year 1, growing each year. Cash flow, income statements and balance sheets are provided showing increasing profits and net worth over the 3-year period as campers and revenues grow each year.
Ann Enterprise needs to make adjusting journal entries at the end of 2006 for various accrual and deferral transactions. These include recording rent and insurance expenses for December, allocating revenue received in advance across multiple months, adjusting supplies and prepaid insurance, recording fees earned but unbilled, and depreciating office equipment. Yong also needs to make entries to write off additional bad debts based on percentages of outstanding debtors and set up a provision for doubtful debts account.
If you want to get customized help regarding any assignment from our experts, Please contact us @ www.assignmentconsultancy.com or mail us to support@assignmentconsultancy.com
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Portfolio Management Assignment, Valuation Analysis, DCF Valuation, Discounted Cash Flow, Time value of money, capital formation, equity valuation, dividend discount model, cash flow analysis, valuation of the firm through free cash flow, bond valuation, techniques of project evaluation, like net present value and internal rate of return, Short rate model, Financial capital, Financial modeling, Financial Analysis, Financial Accounting, financial forecasting, understanding of company and its future
The document discusses the end of an asset's useful life. It explains that when an asset is disposed of at the end of its useful life, it is either sold for cash or traded in for credit towards a new asset. The amount the asset is sold or traded for should be equal to its carrying value on the balance sheet. The carrying value represents the portion of the asset's historical cost that remains unused or unexpired and therefore the future economic benefits still available to a new owner.
Company A has Rs. 1,000 in equity shares and Rs. 9,000 in 10% debentures, while Company B has Rs. 9,000 in equity shares and Rs. 1,000 in 10% debentures. When sales are Rs. 20,000 for A and Rs. 18,000 for B, A's earnings per share is Rs. 20.50 while B's is Rs. 15.50.
devry fin 515 week 4 midterm,devry fin 515 week 4 problem set,devry fin 515 week 4,devry fin 515 week 4,devry fin 515,devry fin 515 week 4 tutorial,devry fin 515 week 4 assignment,devry fin 515 week 4 help
devry fin 515 week 4 midterm,devry fin 515 week 4 problem set,devry fin 515 week 4,devry fin 515 week 4,devry fin 515,devry fin 515 week 4 tutorial,devry fin 515 week 4 assignment,devry fin 515 week 4 help
This document summarizes the key differences between dissolution of a partnership and dissolution of a partnership firm. Dissolution of a partnership refers to a change in the existing agreement between partners, while the business continues. Dissolution of a partnership firm refers to closing the business and ending the economic relationship between partners. Upon dissolution of a firm, the books must be closed, assets sold, liabilities paid, capital returned to partners, and any remaining amount divided according to profit sharing ratios.
SMU_MBA-Solved-Assignment-Mb0041 financial and management accounting spring20...pkharb
This document provides details of an assignment for a Financial and Management Accounting subject in an MBA program. It includes 5 questions related to analyzing transactions under the traditional accounting approach, journal entries for errors detected in a trial balance, preparing an adjusted trial balance, analyzing trend ratios for Infosys Technologies Ltd over 5 years, and explaining cash flow analysis and the preparation of a cash flow statement.
The document provides details about an accounting and business programme run by Afterscho☺ol Centre for social entrepreneurship. It includes journal entries for various accounting transactions such as admitting a new partner, revaluing assets, transferring reserves and calculating new capital balances. It also discusses topics such as preference shares, redemption of preference shares, and provides examples of journal entries for related transactions.
The document provides non-consolidated and consolidated financial statements for companies XYZ Inc. and ABC Ltd. over four years. It shows assets, liabilities, equity, revenues and expenses increasing over time. Exchange rates fluctuated between years. The financial statements indicate the companies grew in size and profitability through the four years.
Reconstruction of Companies problem with answer is discussed in this PPt.
#ReconstructionofComapnies
#Dr MamataRathi
#InternalReconstruction
#Externalreconstruction
#ReconstructionNotes
#ReconstructionBcomSY
#Accounting
#Corporate Accounting
- Investments in associates are initially recognized at cost and subsequently adjusted to recognize the investor's share of the associate's profit or loss and other comprehensive income.
- The carrying amount is reduced by any dividends received from the associate. Gains or losses on revaluation of property, plant and equipment and foreign exchange differences are also passed through to other comprehensive income.
- When an investor loses control of a subsidiary it reclassifies amounts in other comprehensive income to profit or loss or retained earnings on the same basis as if it directly disposed of the related assets or liabilities.
Beginning one year after the sublease commencement date, Mad Cow Theater will pay the City of Orlando $1,014.52 annually. Starting in the third year, the annual payment will increase to $2,029.04. The payments will be deposited into the City's Community Redevelopment Agency Fund. The fiscal impact statement analyzes the costs and revenues associated with the City subleasing property to Mad Cow Theater.
PARTNERSHIP ACCOUNTS - Adjustments after closing the accountsKalaiSelvi169
This document discusses the calculation of opening capital balances and profit distribution for three partners - Lakshman, Nagarajan, and Parthiban. It provides the opening capital amounts for each partner and calculates their share of profit based on capital ratios. Parthiban's profit share is adjusted to a minimum of Rs. 7,500 as his initial share was lower, with Lakshman compensating the difference. Appropriate accounting entries are made in the Profit & Loss Appropriation account and Partners' Capital accounts to distribute the net profit of Rs. 22,500 among the partners as per their revised profit shares.
The document discusses the evaluation of bids for two construction projects.
For the first project of adding a new gymnasium, Bidder A was selected as the lowest bidder. Alternate 2 (racquetball courts) and Alternate 4 (replacing brick exterior with metal siding) could be retained within budget.
For the second project of a new research laboratory, Bidder B was selected as the lowest bidder and could retain all additive alternates, coming in under the $5.6 million budget.
The document discusses time value of money concepts like present value, future value, present value of annuity, and future value of annuity. It provides formulas to calculate these values and includes examples showing how to apply the formulas to calculate PV, FV, PVA and FVA given cash flows, interest rates, and time periods. Sample questions are included along with step-by-step solutions demonstrating the calculations.
Silver Construction Ltd recognizes gross profit of P80,000 in 2013 and P120,000 in 2014 using the percentage-of-completion method based on costs incurred. GPC Ltd recognizes gross profit of P150,000 in 2009 on contract #3814 using the percentage-of-completion method based on costs incurred and estimated costs to complete. Masikap Construction Co recognizes gross profit of P600,000 in 2010 and P840,000 in 2011 on a fixed-price construction contract using the percentage-of-completion method based on percentage of completion and estimated total costs.
PARTNERSHIP ACCOUNTS - Profit & Loss Appropriation accountKalaiSelvi169
The document contains the solution to multiple accounting sums involving the preparation of Profit and Loss Appropriation Accounts and Capital Accounts of partners. Specifically, it provides the accounting entries to distribute profit among partners based on their profit sharing ratios, deduct interest on capital and drawings, and transfer the final balances to partners' capital accounts. The solutions show the detailed workings and calculations involved in each step of the process.
- The document contains worked examples of profit and loss appropriation accounts and current accounts for partnerships with guaranteed partners.
- It allocates profits between partners based on their capital ratios and guarantees minimum profit shares for some partners.
- Any shortfall between the guaranteed amount and the partner's share based on capital ratio is made up from the other partners' shares.
This document outlines the business plan and financial projections for a proposed summer camp. It includes startup expenses totaling over $1 million. Revenue projections assume 16 campers per week in year 1, growing to 32 in year 2 and 64 in year 3. Monthly operating costs are estimated at $19,000 in year 1, growing each year. Cash flow, income statements and balance sheets are provided showing increasing profits and net worth over the 3-year period as campers and revenues grow each year.
Ann Enterprise needs to make adjusting journal entries at the end of 2006 for various accrual and deferral transactions. These include recording rent and insurance expenses for December, allocating revenue received in advance across multiple months, adjusting supplies and prepaid insurance, recording fees earned but unbilled, and depreciating office equipment. Yong also needs to make entries to write off additional bad debts based on percentages of outstanding debtors and set up a provision for doubtful debts account.
If you want to get customized help regarding any assignment from our experts, Please contact us @ www.assignmentconsultancy.com or mail us to support@assignmentconsultancy.com
WE provide services for all the assignments such as
Portfolio Management Assignment, Valuation Analysis, DCF Valuation, Discounted Cash Flow, Time value of money, capital formation, equity valuation, dividend discount model, cash flow analysis, valuation of the firm through free cash flow, bond valuation, techniques of project evaluation, like net present value and internal rate of return, Short rate model, Financial capital, Financial modeling, Financial Analysis, Financial Accounting, financial forecasting, understanding of company and its future
The document discusses the end of an asset's useful life. It explains that when an asset is disposed of at the end of its useful life, it is either sold for cash or traded in for credit towards a new asset. The amount the asset is sold or traded for should be equal to its carrying value on the balance sheet. The carrying value represents the portion of the asset's historical cost that remains unused or unexpired and therefore the future economic benefits still available to a new owner.
Company A has Rs. 1,000 in equity shares and Rs. 9,000 in 10% debentures, while Company B has Rs. 9,000 in equity shares and Rs. 1,000 in 10% debentures. When sales are Rs. 20,000 for A and Rs. 18,000 for B, A's earnings per share is Rs. 20.50 while B's is Rs. 15.50.
devry fin 515 week 4 midterm,devry fin 515 week 4 problem set,devry fin 515 week 4,devry fin 515 week 4,devry fin 515,devry fin 515 week 4 tutorial,devry fin 515 week 4 assignment,devry fin 515 week 4 help
devry fin 515 week 4 midterm,devry fin 515 week 4 problem set,devry fin 515 week 4,devry fin 515 week 4,devry fin 515,devry fin 515 week 4 tutorial,devry fin 515 week 4 assignment,devry fin 515 week 4 help
This document summarizes the key differences between dissolution of a partnership and dissolution of a partnership firm. Dissolution of a partnership refers to a change in the existing agreement between partners, while the business continues. Dissolution of a partnership firm refers to closing the business and ending the economic relationship between partners. Upon dissolution of a firm, the books must be closed, assets sold, liabilities paid, capital returned to partners, and any remaining amount divided according to profit sharing ratios.
SMU_MBA-Solved-Assignment-Mb0041 financial and management accounting spring20...pkharb
This document provides details of an assignment for a Financial and Management Accounting subject in an MBA program. It includes 5 questions related to analyzing transactions under the traditional accounting approach, journal entries for errors detected in a trial balance, preparing an adjusted trial balance, analyzing trend ratios for Infosys Technologies Ltd over 5 years, and explaining cash flow analysis and the preparation of a cash flow statement.
The document provides details about an accounting and business programme run by Afterscho☺ol Centre for social entrepreneurship. It includes journal entries for various accounting transactions such as admitting a new partner, revaluing assets, transferring reserves and calculating new capital balances. It also discusses topics such as preference shares, redemption of preference shares, and provides examples of journal entries for related transactions.
- Sajeev and Rajeev are partners with initial capital contributions of Rs. 150,000 and Rs. 125,000 respectively.
- Their partnership agreement specifies partner salaries, commissions, interest on capital and profit/loss sharing ratios.
- The document provides details of partner transactions for the year ending December 31, 2011 and asks to prepare capital accounts under fixed and fluctuating capital methods.
- Capital accounts are prepared crediting/debiting partner accounts for initial capital, transactions throughout the year, and closing balances on December 31, 2011.
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This document provides information about an assignment solving service called SMUSolvedAssignments. It lists the contact details and pricing for their services. They charge Rs. 125 per subject or Rs. 600 per semester for solved assignments. The document then provides details of 6 assignments for the BBA SEM 2 Winter 2015 course, including questions on revaluation of accounts, preparation of cash books, treatment of goodwill, accounting objectives and preparation of financial statements from trial balances.
The document provides details about an accounting for business program by Afterscho☺ol Centre for Social Entrepreneurship. It includes instructions for participants to prepare trading and profit and loss accounts based on transaction details provided for a business owner named Goti for the year ended 31 March 2007. It also provides an additional information and asks participants to prepare a balance sheet as on that date.
This material is a part of our PGPSE programe. Our programme is available for any student after class 12th / graduation. AFTERSCHO☺OL conducts PGPSE, which is available free to all online students. There are no charges. PGPSE is a very rigorous programme, designed to give a comprehensive training in social entrepreneurship / spiritual entrepreneurship. This programme is aimed at those persons, who want to ultimately set up their own business enterprises which can benefit society substantially. PGPSE is a unique programme, as it combines industry consultancy, business solutions and case studies in addition to spirituality and social concerns. You can read the details at www.afterschoool.tk or at www.afterschool.tk
Here are the journal entries to record the admission of the new partner N:
1. Creditors A/c Dr. 2,000
To Provision for Discount on Creditors A/c 2,000
(To create 10% provision for discount on creditors)
2. Debtors A/c Dr. 2,000
Provision for Doubtful Debts A/c Dr. 1,000
To Bad Debts A/c 3,000
(To write off bad debts of Rs. 2,000 and create 5% provision for doubtful debts)
3. Stock A/c Dr. 5,000
To Revaluation A/c 5,000
(To revalue stock at
This document provides information and examples about accounting for public companies and underwriting. It discusses concepts like underwriting liability, applications received, marked applications, outstanding shares, and liability calculations for different underwriters based on information provided in examples. It also discusses calculating share value based on dividend yield and return on capital employed. Other topics covered include acquisition accounting, consolidation of financial statements, treatment of pre-acquisition profits, minority interest, and revaluation of assets.
This document provides information and examples about accounting for public companies and underwriting. It discusses concepts like underwriting liability, applications received, marked applications, outstanding shares, and underwriter ratios and liabilities. Multiple examples are provided of calculating underwriter liability given information about shares issued, underwriting percentages, applications received, and marked applications.
A N N U I T Y Q U E S T I O N S F O R A P T I T U D E T E S T SDr. Trilok Kumar Jain
This document provides information and examples about accounting for public companies and underwriting. It discusses concepts like underwriting liability, applications received, marked applications, outstanding shares, and liability calculations for different underwriters based on information provided in examples. It also includes solutions to example questions about underwriting calculations.
1) The document is a project report on accountancy submitted to CBSE. It provides an introduction to accounting, objectives of accounting like maintaining records and determining profit/loss.
2) It discusses advantages like providing financial information and aiding decision making. Disadvantages discussed are accounting only records monetary transactions and information can be manipulated.
3) It includes various accounting transactions with debit and credit entries recorded in journal and posted to ledger accounts like cash, bank, purchases etc.
The document provides financial information for the company X Ltd for the years 2007-2008. It states that the net profit before tax and dividend for 2007-08 was Rs. 63,000. A provision for tax of Rs. 23,000 was made, though actual tax paid was Rs. 18,000. Proposed dividend was Rs. 15,000 but only Rs. 10,000 was paid. Depreciation charged was Rs. 80,000 and bonus shares of Rs. 50,000 were issued from share premium.
The document contains 13 numerical problems related to the distribution of profits and losses among partners in different partnership scenarios. The problems cover topics such as calculation of interest on capital and drawings, treatment of guaranteed minimum profits, salaries, commissions, and the preparation of profit and loss appropriation accounts. Detailed solutions are provided for each problem in the form of journal entries or accounts with calculations shown.
The document contains sample problems and solutions related to accounting for partnerships. It provides examples of calculating interest on capital accounts, distributing profit and loss among partners, accounting for partner salaries and commissions, and preparing profit and loss appropriation accounts. The problems demonstrate how to account for partnership transactions and allocate profits, losses, interest and other items according to partnership agreements.
This document discusses the treatment of accumulated profits/losses, workmen compensation fund, and investment fluctuation fund when admitting a new partner to a partnership firm. It provides examples of journal entries for distributing reserves and funds to old partners' capital accounts in their old profit sharing ratios when the balance sheet shows accumulated profits, no claim on funds, or shortfalls covered by the funds. If claims exceed a fund's balance, the old partners must share the loss.
This unit discusses underwriting of shares including:
- Types of underwriting contracts such as wholly/partially underwritten and normal/firm underwriting
- Underwriter's duties, liabilities, and commissions
- Calculating underwriter liabilities based on their gross liability, marked/unmarked applications, and negative balances
- Worked examples are provided to demonstrate calculating underwriter liabilities in different scenarios involving marked/unmarked applications and firm underwriting.
This unit discusses underwriting of shares including:
- Types of underwriting contracts such as wholly/partially underwritten and normal/firm underwriting
- Underwriter's duties, liabilities, and commissions
- Calculating underwriter liabilities based on their gross liability, marked/unmarked applications, and negative balances
- Worked examples are provided to demonstrate calculating underwriter liabilities in different scenarios involving marked/unmarked applications and firm underwriting.
This document is a question paper for an Accountancy exam containing 16 multi-part questions. It provides instructions that the exam is 3 hours, has 2 parts (A and B), and contains value-based questions. The questions cover various topics related to partnership accounts, company accounts, debentures, and changes in partnership. For example, question 6 asks students to pass journal entries related to admitting a new partner who will pay capital and premium for goodwill. Question 15 asks students to prepare revaluation, capital, and balance sheet accounts given financial information and retirement of a partner.
Marginal costing is a technique that involves classifying costs as either variable or fixed. Variable costs change with production volume, while fixed costs remain constant in total. Under marginal costing, only variable costs are considered in inventory valuation and income determination. The document discusses marginal costing concepts like contribution, break-even point, profit-volume ratio, and their importance in managerial decision making. It also provides examples of calculating these metrics from financial data.
Labour :Time Rate -piece rate, Incentives meaning importance Taylor Differential piece rate-Halsey & rowan plans.Labour turnover meaning causes -effects-methods
This document discusses international joint ventures. It defines an international joint venture as a partnership between two businesses in two or more countries. International joint ventures allow companies to minimize risk when entering foreign markets compared to acquisitions. The document outlines the basic elements, reasons for forming, factors affecting, benefits and disadvantages of international joint ventures. It also discusses the biggest challenges of conducting international business.
This document provides information on various topics related to international business strategy:
1. It begins with background on Japan - its location, leadership, capital, language, currency, and population.
2. It then discusses challenges of doing business in Japan, such as starting a business, dealing with permits, taxes, and enforcing contracts.
3. It provides details on the historical European Community (EC) and its goals of eliminating trade barriers. It describes the three main bodies - European Economic Community (EEC), European Coal and Steel Community (ECSC), and European Atomic Energy Community.
4. It outlines benefits and challenges of doing business in North America, such as speed, dedicated workers, and clear rules,
This document provides information on various macroeconomic policies and international economic topics. It discusses fiscal policy, monetary policy, and supply-side policies. It also covers foreign exchange reserves, the eurodollar market, devaluation, and factors that affect the effectiveness of devaluation. Specifically, it notes that fiscal policy involves changes in government spending and taxation, monetary policy includes changes in interest rates and money supply, and supply-side policies aim to increase productive capacity. It also discusses the meaning and problems of international liquidity and measures to address liquidity shortages.
International movements-meaning-Export & import of merchandise & services-International investment-International Payments, Rate of exchange, Economic integration
International Development Associations – International Finance Corporation – The International Debt and Country Analysis – Recent Changes in International Financing.
International Financial Management, Strategic Human Resource Management, Global Sourcing, Global Supply chain Management, Corporate Strategy, Production Strategy
Gains from international trade-Terms of trade-Technical progress & trade -Balance of payment-Balance of trade-economic effects and trade restrictions-Bilateralism-OPEC & other International cartels
Gains from international trade-Terms of trade-Technical progress & trade -Balance of payment-Balance of trade-economic effects and trade restrictions-Bilateralism-OPEC & other International cartels
Introduction of strategy,Levels,Meaning of International Business, Multinational corporations,advantages of Home country &host country, Challenges of Internationalbusiness
UNIT – V
Business cycles – National income, monetary and fiscal policy – Public finance. TRIM‟s- Intellectual Property rights – TRIP‟s – Industrial Sickness – causes –remedies
Cost and production analysis - Cost concepts – Cost and output relationship - cost control – Short run and Long run - cost functions - production functions – Break-even analysis - Economies scale of production.
This document provides information about human resource accounting and voyage accounting. It defines human resource accounting as measuring the cost and value of employees and managers in an organization. It discusses the objectives of HRA which include providing cost/value information about human resources and assisting in effective utilization and management of human resources. Some advantages of HRA are that it provides useful information for manpower planning, making personnel policies, utilizing human resources effectively, and increasing employee morale and motivation. The document also defines voyage accounting and provides details about accounting entries for voyage accounts, including items that are debited and credited. It includes two examples of completed voyage accounts.
This document discusses various branding strategies. It begins by defining branding strategy as a long-term plan to develop a successful brand to achieve specific goals. It then discusses different types of branding strategies such as personal branding, product branding, corporate branding, service branding, co-branding, online branding, and no-brand branding. Branding tools like the brand-product matrix and brand hierarchy are also introduced to help formulate branding strategies. The document provides examples and discusses how to design and implement effective branding strategies.
This document discusses key concepts related to demand analysis in economics including definitions of demand, determinants of demand, types of demand, elasticity of demand, and demand forecasting. It provides definitions of demand from Adam Smith and Alfred Marshall. It describes the law of demand, demand schedules, individual demand, market demand, derived demand, and cross demand. It discusses factors that influence elasticity of demand and different degrees of price elasticity. Finally, it outlines various methods that can be used for demand forecasting.
This document provides information about fire insurance claims. It begins with an introduction stating that fires can damage business assets like stock and furniture, and also disrupt normal operations resulting in lost sales and profits. It advises businesses to insure such assets against fire risk by taking appropriate insurance policies.
It then provides the format of a memorandum trading account to calculate claims. Key formulas explained are gross profit ratio, actual loss of stock, and claim amount. An example is given of a fire on 31.5.94 destroying stock, with opening stock of Rs. 60,000 and some stock salvaged. The trader is asked to calculate claim amount based on provided gross profit ratio and insured amount.
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxEduSkills OECD
Iván Bornacelly, Policy Analyst at the OECD Centre for Skills, OECD, presents at the webinar 'Tackling job market gaps with a skills-first approach' on 12 June 2024
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
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Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
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Leveraging Generative AI to Drive Nonprofit InnovationTechSoup
In this webinar, participants learned how to utilize Generative AI to streamline operations and elevate member engagement. Amazon Web Service experts provided a customer specific use cases and dived into low/no-code tools that are quick and easy to deploy through Amazon Web Service (AWS.)
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
3. Dissolution of a firm means Closing down the
undertaking or suspending permanently the activities
of a partnership business.
It refers to the complete breakdown of a partnership &
Partners do not continue the firm. The Dissolution of
partnership between all partners of the firm is called
the dissolution of firm. In such case ,the assets are
disposed off, liabilities are paid off and whatever
remains is paid to the partners in settlement of their
accounts
Prepared By Ms.Jissy.C, Assistant Profesor
5. MODES OF DISSLOUTION
Dissolution by
Agreement
Compulsory
Agreement
Dissolution
on happening
of certain
events
Dissolution
By Notice
Dissolution
by Court
Prepared By Ms.Jissy.C, Assistant Profesor
6. 1.R S&M are partners sharing P/L as 2:2:1 .Their B/S as
at 30.6.91 was as follows
Liabilities Amount Assets Amount
Capital-R 10000 Bank 5000
S 4000 Debtors 4000
M 2000 Stock 5000
Creditors 4000 Fixtures 2000
Reserve fund 5000 Machinery 9000
25000 25000
Prepared By Ms.Jissy.C, Assistant Profesor
7. They decide to dissolve the business. The following are
the amounts realized. Machinery Rs 8500; Furniture
Rs1500; Stock Rs7000; Debtors Rs3700.Creditors
allowed a discount of 2% and R agreed to bear all
realization expenses .For the service, R is paid Rs
120.Actual expenses amounted to Rs 900 which was
withdrawn by him from the firm. There was unrecorded
assets of Rs500 which was taken over by S at
Rs400.Pass necessary journal entries, Realization
Partners capital &Bank a/c.
Prepared By Ms.Jissy.C, Assistant Profesor
8. Prepared By Ms.Jissy.C, Assistant Profesor
Journal Entries
Particulars Amount Amount
Realization a/c
To Debtors
To Stock
To Fixtures
To Machinery
(Being all Assets Transferred)
20000
4000
5000
2000
9000
Realisation account Dr
To Bank
(Being creditors paid off)
3920
3920
Bank a/c Dr
To Realisation
(Being all assetd realised except cash)
20700
20700
Realisation acccount Dr
To R,s Capital
120
120
Creditors a/c
To Realization
(Being Creditor Transferred)
4000
4000
9. Prepared By Ms.Jissy.C, Assistant Profesor
R,s Capital account Dr
To Bank
(Being realisation expenses paid by R)
900
900
S’s Capital account Dr
To Realisation
(Being unrecorded assests taken over by S)
400
400
Reserve Fund account Dr
To R’s Capital a/c
To S’s Capital a/c
To M’s Capital a/c
(Being accmulated profits distributed among
all the partners)
5000
2000
2000
1000
Realisation account Dr
To R’s Capital a/c
To S’s Capital a/c
To M’s Capital a/c
(Being profit on disolution distributed)
1060
424
424
214
10. Realisation account
Prepared By Ms.Jissy.C, Assistant Profesor
particulars amount Particulars amount
To Debtors 4000 By Creditors 4000
To Stock 5000
To Fixtures 2000
TO Machinery 9000
TO Bank (Crs) 3920
By S’s Capital 400
By Bank 20700
To Profit
R:424
S:424
M:212 1060
TO R’s Capital 120
25100 25100
11. Partners Capital account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars R S M Particulars R S M
To Bank 900 - - By Bal b/d 10000 4000 2000
By Realis(R) 120
By Reserve 2000 2000 1000
By Realis
Profit
424 424 212
To Realis(S) 400
To Bank(b/f) 11644 6024 3212
12544 6424 3212 12544 6424 3212
12. Bank Account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars Amount particulars Amount
By R’s Capital 11644
By R’s Capital 900
By S’s Capital 6024
By M’s Capital 3212
By Realisation 3920
To Realisation 20700
To Balance b/d 5000
25700 25700
13. ASSIGNMENT QUESTION :-
2.P ,Q &R share profits in proportion of ½,1/4,&1/4 On
the date of dissolution their B/S was as folows:
The assets realize Rs 35500 .Creditors were paid in
full.Realisation expenses amounted to Rs1500.Close the
books of the firm.
Liabilities Amount Assets Amount
Capital-P 10000 Assets 40000
Q 10000
R 6000
Creditors 14000
40000 40000
Prepared By Ms.Jissy.C, Assistant Profesor
14. 3.The following was the B/S of A&B on 31.12.83.
Prepared By Ms.Jissy.C, Assistant Profesor
Liabilities Amount Assets Amount
Sundry Creditors 38000 Cash @ bank 11500
Mr.A,s loan 10000 Stock in trade 6000
B,s Loan 15000 Debtors 20000
Less provision 1000 19000
Reserve Fund 5000 Fixture & Fitting 4000
A,s Capital 10000 Plant & Machinery 28000
B,s Capital 8000 Investments 10000
P&L a/c 7500
86000 86000
15. The firm was dissolved on 31.12.83 and the following was
the result:
i)A took over the investment at an agreed value of Rs
8000 & agreed to pay off the loan of Mrs A.
ii) The assets realized as follows:
Stock Rs5000; debtors Rs 18500; Fixture &Fittings
Rs4500; &P&M Rs25000
iii)The Expenses were Rs1100
iv)The sundry Creditors were paid off less 2 ½% discount
A &B Shared P&L in the ratio of 3:2. Prepare the
necessary accounts
Prepared By Ms.Jissy.C, Assistant Profesor
16. Realisation Account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars Amount Particulars Amount
By Creditors 38000To Sundry Asset 68000
By provision fro d/d 1000
By A,s Capital 8000
By Bank(Asset Realised) 53000
To Bank(Crs Realised) 37050
To Bank(EXP) 1100
By Loss
A:6150 x3/5=3690
B:6150 x2/5=2460 6150
106150
106150
17. Partners Capital Account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars A B Particulars A B
By Balance B/d 10000 8000
By Reserve 3000 2000
By Mrs A’sLoan 10000
To
Realisation(LOSS)
3690 2460
To
Realisation(invst)
8000
To P& L 4500 3000
To Bank b/f 6810 4540
23000 10000 23000 10000
18. Bank Account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars Amount Particulars Amount
By A,s Capital 6810
By B’s Capital 4540
By Realisation(crs) 37050
To Realisation 53000
To Balance B/d 11500
By B,s Loan 15000
By Realisation(exp) 1100
64500 64500
19. 4) X Y &Z sharing profits in the proportion of 3: 2:1
decided to dissolve partnership on 31.12.90. Their B/S
on that date was as under:
Prepared By Ms.Jissy.C, Assistant Profesor
Liabilities Amount Assets Amount
Sundry Creditors 16200 Cash @ bank 1500
Bank Loan 11500 Stock in trade 7550
Leasehold
redemption fund 6000
Debtors 5800
Less provision 500 5300
Life policy fund 12000 Leasehold premises 12500
Capital X 30000 Goodwill 20000
Y 10000 Machinery 30520
Z 10000 Investment 6330
Joint life policy 12000
95700 95700
20. The joint life policy is surrendered for Rs10000.The
investment are taken over by for Rs8000.X agreed to
discharge the bank loan. The remaining assets are sold
Rs 86700.The expenses of realization amount to Rs850.
Show the necessary ledger accounts including the
accounts of the partners
Prepared By Ms.Jissy.C, Assistant Profesor
21. Realisation Account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars Amount Particulars Amount
By Liablities:
Bank Loan
Leasehold Redem
Life policy Fund
Sundry Creditors
11500
6000
12000
16200
To Asset:
Leasehold
Goodwill
Machinery
Stock
Investment
Joint life policy
Debtors
12500
20000
30520
7550
6330
12000
5800
By Bank:
Joint life Policy10000
Other asset 86700 96700
To Bank(Exp) 850
To X,s Capital(Bank
loan)
11500
By Y,s Capital
(invetment)
8000
To Profit:
X:21925
Y:14617
Z:7308
43850
150900
150900
Reserve for D/D 500
22. Capital Accounts
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars X Y Z Particulars X Y Z
By Balance b/d 30000 10000 10000
By Realisation(P) 21925 14617 7308
To Realisation(P) - 8000 -
To Bank(b/f) 63425 16617 17308
By Realisation
(bank loan)
11500 - -
63425 24617 17308 63425 24617 17308
23. Bank Account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars Amount Particulars Amount
To Balance b/d 1500 By Realisation 850
To Realisation 96700 By X’s Capital 63425
By Y’s Capital 16617
By Z’s Capital 17308
98200 98200
24. 5). A, B &C are Partners in a firm sharing P&L in the
proportion of 3:3:2.Their B/S on 31.12.97 was as
follows:
Prepared By Ms.Jissy.C, Assistant Profesor
Liabilities Amount Assets Amount
Sundry creditors 47500 Bank 55000
Partners capital A 75000 Stock 69000
B 75000 Investments 6000
C 100000 Debtors 70000
Partner Current A 15000 Land & Buildings 125000
B 25000 Goodwill 25000
C 12500
350000 350000
25. They decided to dissolve the firm on 1.1.1998.”A
“reports the results of realization as follows:
i) Land &Buildings Rs-90000 ii) Debtors Rs-60000 iii)
Investments Rs5500
iv)Stock Rs-75500 v)Goodwill-Nil
The realization expenses amounted to Rs2000.Close the
accounts of the firm.
Prepared By Ms.Jissy.C, Assistant Profesor
26. Solution: Realisation
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars Amount Particulars Amount
By Sundry Crs 47500
By Bank (assets realisd) 231000
To Debtors 70000
To Land & Building 125000
To Investments 6000
To Stock 69000
By Loss
A:24750
B:24750
C:16500 66000
To Goodwill 25000
To Bank(exp) 2000
To Bank(crs) 47500
344500 344500
27. Partners Current Accounts
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars A B C Particulars A B C
ByBalane b/d 15000 25000 12500To Reali (pr) 24750 24750 16500
By Capital b/f 9750 - 4000To Capital b/f - 250 -
24750 25000 1650024750 25000 16500
28. Partners Capital account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars A B C Particulars A B C
By Balnce b/d 75000 75000 100000To Current a/c 9750 - 4000
By Current a/c - 250 -
To Bank (b/f) 65250 75250 96000
75000 75250 10000075000 75250 100000
29. Bank Account
Prepared By Ms.Jissy.C, Assistant Profesor
Particulars Amount Particulars Amount
To Balance b/d 55000
To Realisation (ast reas) 231000
By Realisation(exp) 2000
By Realisation(exp) 47500
By A’s Capital 65250
By B’s Capital 75250
By C’s Capital 96000
286000 286000