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Page under Constructions !!! Will be updated soon… T.S. Grewal’s Double Entry Book Keeping (Vol. I)- Accounting for Partnership Firms 1.     Partnership Accounts- Fundamentals 2.     Partnership Accounts- Valuation of Goodwill 3.     Partnership Accounts- Change in the Profit Sharing Ratio 4.     Partnership Accounts- Admission 5.     Partnership Accounts- Retirement 6.     Partnership…

Exception to Revaluation Account TRANSACTIONS/EVENTS WHICH ARE NOT RECORDED IN REVALUATION ACCOUNT Back to Index

Different Terms Used in Revaluation Assets Example 1 Book Value of Land and Buildings is Rs. 4,00,000 Additional Information Despite of different language in the above statements, account treatment is same for all. Example 2 Book Value of Plant & Machinery is Rs. 1,00,000 Additional Information Despite of different language in the above statements, account treatment is same for all. Back…

Revaluation of Assets and Reassessment of Liabilities At the time of change in profit-sharing ratio of existing partners, the assets and liabilities of the firm are revalued or reassessed. Rationale They are revalued because if there is any change (increase or decrease) in the value of assets and liabilities, then such changes belong to the period prior to the change in profit-sharing ratio.…

Accounting Treatment for Existing Goodwill Existing goodwill appears in the Balance Sheet at the time of change in profit-sharing ratio, is purchased goodwill. Such goodwill is usually written off at the time of change in profit sharing ratio unless the existing partners decided to carry it as an asset. 1.    When Existing Goodwill is written off In case of existing goodwill at the time of…

1.    Accounting Treatment of Goodwill In case of change in profit-sharing ratio, the gaining partner should compensate the sacrificing partner by paying the proportionate amount of goodwill or premium for goodwill in the gaining ratio. Amount of Compensation Payable = Value of Firm’s Goodwill x Share of Profit Gained In the above example, if the firm’s goodwill is Rs. 2,00,000, Rs. 20,000…

Syllabus Issued by CBSE Project Work Assessment Project Guide Lines XII BST Project Works Class 12 Business Studies Syllabus 2023-24Download

Learning Objective Learning Outcomes Meaning & Concept of Financial Management Financial Management Functions of Financial Management Objectives of Financial Management Financial Decisions Investing Decisions Financing Decisions Dividend Decisions Financial Planning Objectives of Financial Planning Importance of Financial Planning Concept of Capital Structure Financial…

Learning Objective Learning Outcomes Meaning & Concept of Financial Market Function of Financial Markets Concept of Money Market Money Market Instruments Concept of Capital Market Comparative View : Money Market & Capital Market Primary Market Secondary Market / Stock Exchange Function of Stock Exchange Trading and Settlement of Stock Exchange Security Exchange Board of…

XII Business Studies Sample Papers 2021 Term 1

In addition to the Sample Paper issued by CBSE for 2022 (Term 1), Here are some additional Practice Set based on previous question for AISSCE Business Studies 2022. All question are adopted from previous years, so answer are easily available. In case any query you can post comments. Maximum Marks: 40 Total No of Question : 60 CBSE XII Business Studies Sample Paper-1 2022 (Issued by CBSE) CBSE…

XII Business Studies Term Wise Syllabus

Detail Syllabus Business-studies_2021-22-1Download Internal_Assessment_Practicals_ProjectsDownload

Class 12 Business Studies BST MCQ Questions with Answers

1.       Chapter 1 Nature and Significance of Management MCQs 2.       Chapter 2 Principles of Management MCQs 3.       Chapter 3 Business Environment MCQs 4.       Chapter 4 Planning MCQs 5.       Chapter 5 Organising MCQs 6.       Chapter 6 Staffing MCQs 7.       Chapter 7 Directing MCQs 8.       Chapter 8 Controlling MCQs 9.       Chapter 9 Financial Management MCQs 10.    Chapter 10…

Class 12 Accountancy MCQ Questions with Answers

1.       Financial Statements of Not-for-Profit Organisations (N.P.O.) MCQs 2.       Accounting for Partnership Firms — Fundamentals MCQs 3.       Change in Profit Sharing Ratio among the Existing Partners MCQs 4.       Admission of a Partner MCQs 5.       Retirement or Death of a Partner MCQs 6.       Dissolution of a Partnership Firm MCQs 7.       Issue of Shares MCQs 8.       Issue of…

Chapter 3 : Admission of a Partner – NCERT Question Class 12 Accountancy

Question 1 A and B were partners in a firm sharing profits and losses in the ratio of 3:2. They admit C into the partnership with 1/6 share in the profits. Calculate the new profit sharing ratio? (Ans : 3:2:1) Question 2 A,B,C were partners in a firm sharing profits in 3:2:1 ratio. They admitted D for 10% profits. Calculate the new profit sharing ratio? (Ans : 9:6:3:2) Question 3 X and Y…

NCERT Solution Class 12 Accountancy

Page under Constructions !!! Will be updated soon… Not-for-Profit Organisation and Partnership Accounts Chapter 1 : Accounting for Not-for-Profit Organisation Chapter 2 : Basic Concepts of Partnership Chapter 3 : Admission of a Partner Chapter 4 : Retirement/Death of a Partner Chapter 5 : Dissolution of Partnership Firm Company Accounts and Analysis of Financial Statements Chapter 1 :…