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Advertisement Question 37 Chapter 3 – Class 12 Part 1 Unimax 37. The partnership agreement of Kanu and Shruti provides that :(i) Profits will be shared equally.(ii) Shruti will be allowed an annual salary of Rs. 4800.(iii) Kanu will be Read More …
Advertisement Question 36 Chapter 3 – Class 12 Part 1 Unimax 36. A, B and C are three partners sharing profits and losses in ratio 2 : 2: 1. Their respective capitals as on 1st Aril, 2020 were Rs. 200000, Read More …
Advertisement Question 35 Chapter 3 – Class 12 Part 1 Unimax 35. Aman and Guneet are partners. As on 1st April, 2020, the Capital of the partnership was Rs. 30000 out of which Rs. 19000 stood to credit of Aman Read More …
Advertisement Question 34 Chapter 3 – Class 12 Part 1 Unimax 34. A and B are partners sharing profit in the ratio of 3 : 2 with Opening Capitals of Rs. 50000 and Rs. 30000 respectively. Interest on Capital is Read More …
Advertisement Question 33 Chapter 3 – Class 12 Part 1 Unimax 33. Alisha, Aman and Meenu are three partners. On 1st April, 2020 their respective Capitals were Rs. 80000, Rs. 60000 and Rs. 40000. On the same date, their current Read More …
Advertisement Question 32 Chapter 3 – Class 12 Part 1 Unimax 32. A and B are partners sharing profit in proportion of 1/10th and 3/10th with capitals of Rs. 15000 and Rs. 10000 respectively as on 1st Jan., 2021. 5% Read More …
Advertisement Question 31 Chapter 3 – Class 12 Part 1 Unimax 31. Kanu and Shruti are partners sharing profits in the ration of 3 : 2. Their opening Capitals are Rs. 75000 and Rs. 50000 respectively. Interest on Capital is Read More …
Advertisement Question 30 Chapter 3 – Class 12 Part 1 Unimax 30. Y and Z are partners with opening capitals of Rs. 200000 and Rs. 150000 respectively and their profit sharing ratio is 3 : 2. Interest on Capital is Read More …
Advertisement Question 29 Chapter 3 – Class 12 Part 1 Unimax 29. Amar and Akbar are two partners sharing profits and losses equally and their respective opening capitals are Rs. 60000 and Rs. 30000. Profits for the year are Rs. Read More …
Advertisement Question 28 Chapter 3 – Class 12 Part 1 Unimax 28. Varun and Sahil are partners in a firm. Their capitals on 1st April, 2020 were Rs. 300000 and Rs. 200000 and their profit sharing ratio is 2 : Read More …
Advertisement Question 18 Chapter 3 – Class 12 Part 1 Unimax 18. The following particulars are available in respect of the business of a firm. Capital Invested Rs. 50000 2018 Rs. 50000 (Profit) 2019 Rs. 12200 (Profit) 2020 Rs. 15000 Read More …
Advertisement Question 17 Chapter 3 – Class 12 Part 1 Unimax 17. Goodwill is to be valued at 3 years’ purchase of average profits of 3 years upto the date of valuation after deducting interest @ 6% on capital employed Read More …
Advertisement Question 16 Chapter 3 – Class 12 Part 1 Unimax 16. Goodwill is to be valued at two years’ purchase of 3 years normal average Profits of the firms. The Profits for 2018 is Rs. 20000 (including insurance claim Read More …
Advertisement Question 15 Chapter 3 – Class 12 Part 1 Unimax 15. On 1st April, 2021 an existing firm has assets of Rs. 80000 including cash of Rs. 5000. The Partner’s Capital accounts showed a balance of Rs. 60000 and Read More …
Advertisement Question 14 Chapter 3 – Class 12 Part 1 Unimax 14. The average net Profits expected in future by firm are Rs. 30000 per year. The average Capital employed in business by firm is Rs. 200000. The normal rate Read More …
Advertisement Question 13 Chapter 3 – Class 12 Part 1 Unimax 13. The assets of a firm are Rs. 55000 and the liabilities other than capital are Rs. 25000. The normal rate of Profit in this type of business is Read More …
Advertisement Question 10 Chapter 3 – Class 12 Part 1 Unimax 10. A Firm earned net profit during the last five years as follows : 2017 Rs. 7000; 2018 Rs. 6500; 2019 Rs. 8000; 2020 Rs. 7500 and 2021 Rs. Read More …
Advertisement Question 9 Chapter 3 – Class 12 Part 1 Unimax 9. It was estimated that the firm will every year make a profit of 5% on its Capital of Rs. 80000. The real average profits for the last four Read More …
Advertisement Question 6 Chapter 3 – Class 12 Part 1 Unimax 6. The profits of the firm for the last five years were as follows : Year 2017 2018 2019 2020 2021 Profit (Rs.) 20000 24000 30000 25000 18000 Calculate Read More …
Advertisement Question 2 Chapter 3 – Class 12 Part 1 Unimax 2. Calculate the firm’s Goodwill as on 1.1.21 on the basis of 2 years’ purchase of average normal profit of the last three years which are following : Year Read More …
Advertisement Question 1 Chapter 3 – Class 12 Part 1 Unimax 1. Calculate the value of goodwill as on 1.4.21 if it is to be valued at two years’ purchase of the average profit of last five years. The profits Read More …
Advertisement Question 43 Chapter 2 – Class 12 Part 1 Unimax 43. Ravish and Sanchit were partners in a firm sharing profits in ratio of 3 : 2. On 1st April, 2020 their capitals were Rs. 160000 and Rs. 75000. Read More …
Advertisement Question 45 Chapter 2 – Class 12 Part 1 Unimax 45. Ketak, Varun, and Mohit are in partnership sharing profits in a ratio 5 : 3 : 2. Their Capital as on 1st October 2020 was Rs. 80000, Rs. Read More …
Advertisement Question 44 Chapter 2 – Class 12 Part 1 Unimax 44. X, Y and Z are in partnership sharing profits and losses in the ratio of 2 : 1 : 1. It is agreed that interest on Capital will Read More …
Advertisement Question 42 Chapter 2 – Class 12 Part 1 Unimax 42. Ketak, Varun and Mohit are in partnership sharing profits and losses in ratio 5 : 3 : 2. Their Capitals as on 1st April, 2020 were Rs. 200000, Read More …
Advertisement Question 41 Chapter 2 – Class 12 Part 1 Unimax 41. Ram and Gopal are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st January, 2021 their fixed capitals were Rs. Read More …
Advertisement Question 40 Chapter 2 – Unimax Class 12 Part 1 40. Prepare the Capital Accounts of partners P and Q from the following details, assuming that their capitals are fluctuating : P (Rs.) Q (Rs.) Capital as on Read More …
Advertisement Question 39 Chapter 2 – Class 12 Part 1 Unimax 39. On 1st April, 2020 A, B and C start a business in partnership. A puts in Rs. 30000 in first but withdraws Rs. 10000 at end of six Read More …
Advertisement Question 38 Chapter 2 – Class 12 Part 1 Unimax 38. X and Y are partners. As on 1st April, 2020, the capital of the firm was Rs. 45000 out of which Rs. 30000 stood to the credit of Read More …
Advertisement Question 37 Chapter 2 – Class 12 Part 1 Unimax 37. The partnership agreement of Kanu and Shruti provides that :(i) Profits will be shared equally.(ii) Shruti will be allowed an annual salary of Rs. 4800.(iii) Kanu will be Read More …
Advertisement Question 36 Chapter 2 – Class 12 Part 1 Unimax 36. A, B and C are three partners sharing profits and losses in ratio 2 : 2: 1. Their respective capitals as on 1st Aril, 2020 were Rs. 200000, Read More …
Advertisement Question 35 Chapter 2 – Class 12 Part 1 Unimax 35. Aman and Guneet are partners. As on 1st April, 2020, the Capital of the partnership was Rs. 30000 out of which Rs. 19000 stood to credit of Aman Read More …
Advertisement Question 34 Chapter 2 – Class 12 Part 1 Unimax 34. A and B are partners sharing profit in the ratio of 3 : 2 with Opening Capitals of Rs. 50000 and Rs. 30000 respectively. Interest on Capital is Read More …
Advertisement Question 33 Chapter 2 – Class 12 Part 1 Unimax 33. Alisha, Aman and Meenu are three partners. On 1st April, 2020 their respective Capitals were Rs. 80000, Rs. 60000 and Rs. 40000. On the same date, their current Read More …
Advertisement Question 32 Chapter 2 – Class 12 Part 1 Unimax 32. A and B are partners sharing profit in proportion of 1/10th and 3/10th with capitals of Rs. 15000 and Rs. 10000 respectively as on 1st Jan., 2021. 5% Read More …
Advertisement Question 31 Chapter 2 – Class 12 Part 1 Unimax 31. Kanu and Shruti are partners sharing profits in the ratio of 3 : 2. Their opening Capitals are Rs. 75000 and Rs. 50000 respectively. Interest on Capital is agreed Read More …
Advertisement Question 30 Chapter 2 – Class 12 Part 1 Unimax 30. Y and Z are partners with opening capitals of Rs. 200000 and Rs. 150000 respectively and their profit sharing ratio is 3 : 2. Interest on Capital is Read More …
Advertisement Question 29 Chapter 2 – Class 12 Part 1 Unimax 29.Amar and Akbar are two partners sharing profits and losses equally and their respective opening capitals are Rs. 60000 and Rs. 30000. Profits for the year are Rs. 25000 Read More …
Advertisement Question 28 Chapter 2 – Class 12 Part 1 Unimax 28. Varun and Sahil are partners in a firm. Their capitals on 1st April, 2020 were Rs. 300000 and Rs. 200000 and their profit sharing ratio is 2 : Read More …
Advertisement Question 27 Chapter 2 – Class 12 Part 1 Unimax 27. Show how the following will be recorded in the capital and current accounts of Moon and Star. Moon (Rs.) Star (Rs.) Capital as on 1st April, 2021 Read More …
Advertisement Question 26 Chapter 2 – Class 12 Part 1 Unimax 26. Show how the following will be recorded in the capital accounts of partners Ram and Sham when their capitals are fluctuating. Ram (Rs.) Sham (Rs.) Capital as Read More …
Advertisement Question 25 Chapter 2 – Class 12 Part 1 Unimax 25. X and Y started business on 1st January, 2021 with capitals of Rs. 60000 and Rs. 30000 respectively. They decided to share profits in the capital ratio. You Read More …
Advertisement Question 24 Chapter 2 – Class 12 Part 1 Unimax 24. A starts a business on 1st January, 2021 with Rs. 5000. B joins on 1st May, 2021 with Rs. 10000. On 1st July, 2021 C comes in as Read More …
Advertisement Question 23 Chapter 2 – Class 12 Part 1 Unimax 23. A and B are partners in a firm. A is to get a commission of 10% of the net profit before charging way commissions. B is to get Read More …
Advertisement Question 22 Chapter 2 – Class 12 Part 1 Unimax 22. A and B are partners sharing profits in the ration of 3 : 2 with capitals of Rs. 50000 and Rs. 30000 respectively. Interest on Capital is agreed Read More …
Advertisement Question 21 Chapter 2 – Class 12 Part 1 Unimax 21. (a) A and B are partners in a firm. A is entitled to a salary of Rs. 3000 per month together with a commission of 10% of Net Read More …
Advertisement Question 20 Chapter 2 – Unimax Class 12 Part 1 20. P and Q are partners sharing profits and losses in ration of 2 : 1 with capitals of Rs. 200000 and Rs. 100000 respectively. On 1st October, 2020, Read More …
Advertisement Question 19 Chapter 2 – Class 12 Part 1 Unimax 19. Form the following Balance Sheet of A and B as on 31st March, 2021. Calculate interest on capital @ 5% per annum payable to B for the year Read More …
Advertisement Question 18 Chapter 2 – Class 12 Part 1 Unimax 18. Find out interest on drawings at 5% per annum for partner Raman, who withdrew Rs. 600 at the end of every month for six months ending on 31st Read More …
Advertisement Question 17 Chapter 2 – Class 12 Part 1 Unimax 17. Ram withdrew Rs. 1500 at the end of each quarter during the year ended 31st March, 2021. Interest on drawings is charged @ 9% per annum. Find out Read More …
Advertisement Question 16 Chapter 2 – Class 12 Part 1 Unimax 16. A, B, C, D and E are five partners. Their drawings are given below. Calculate interest on drawings for year ended 31st March, 2021, if rate of interest Read More …
Advertisement Question 15 Chapter 2 – Class 12 Part 1 Unimax 15. Partner Z withdrew Rs. 47000 during the year. Calculate interest on drawings if rate of interest on drawings is 10% per annum. The solution of Question 15 Chapter Read More …
Advertisement Question 14 Chapter 2 – Unimax Class 12 Part 1 14. Partner Y’s drawings along with date of drawings are given below. Calculate interest on drawings for year ended 31st Dec., 2021 if rate of interest on drawings is Read More …
Advertisement Question 13 Chapter 2 – Class 12 Part 1 Unimax 13. Partners X, withdrew Rs. 3000 per month during 2021. Interest on drawings is charged@ 9% per annum. Find out interest, if :(a) Drawings were made on the 1st Read More …
Advertisement Question 11 Chapter 2 – Class 12 Part 1 Unimax 11. X and Y are partners and they had Rs. 40000 and Rs. 60000 in their respective capital accounts as on 1st January, 2021. X paid in further Rs. Read More …
Advertisement Question 10 Chapter 2 – Class 12 Part 1 Unimax 10. A and B started business on 1st January, 2021 with capital of Rs. 60000 and Rs. 40000 respectively. A introduced Rs. 10000 as additional capital on 1st July, Read More …
Advertisement Question 9 Chapter 2 – Class 12 Part 1 Unimax 9. X and Y have capitals of Rs. 30000 and Rs. 20000 respectively as on 1st April, 2020. Interest on capital is allowed @ 10% per annum. Find out Read More …
Advertisement Question 8 Chapter 2 – Class 12 Part 1 Unimax 8. A and B are partners sharing Profits in the ratio of 3: 2. The under-mentioned Trial balance was extracted from their books on 31st March 2021. Particulars Dr. Read More …
Advertisement Question 7 Chapter 2 – Class 12 Part 1 Unimax 7. Pass necessary Journal entries and prepare Profit and Loss Appropriation Account of partnership firm (having partner A and B). Profit during 2021 (before adjustments given below) 75000 Interest Read More …
Advertisement Question 6 Chapter 2 – Class 12 Part 1 Unimax 6. P and Q are partners sharing Profits and Losses in the ratio of 3:2 with their capitals on 1st January, 2021 as Rs. 300000 and Rs. 100000 respectively. Read More …
Advertisement Question 5 Chapter 2 – Class 12 Part 1 Unimax On 1st January, 2021 A and B entered into partnership contributing Rs. 60000 and Rs. 40000 respectively. They agreed to share profits and losses in ratio of 3:2. B Read More …
Advertisement Question 4 Chapter 2 – Class 12 Part 1 Unimax 4. Partners P and Q have Capitals Rs. 400000 and Rs. 300000 respectively as on 1st January, 2021. P advanced Rs. 20000 to Partnership firm on 1st July, 2021 Read More …
Advertisement Question 3 Chapter 2 – Class 12 Part 1 Unimax 3. A and B are partners. They do not have any partnership agreement. How will you solve the following disputes among them ?(a)A spent twice the time that B Read More …
Advertisement Question 2 Chapter 2 – Class 12 Part 1 Unimax 2. A and B commenced business in partnership on 1st January, 2021. No partnership agreement was made either oral or written. They contributed Rs. 400000 and Rs. 100000 respectively Read More …
Advertisement Question 1 Chapter 2 – Class 12 Part 1 Unimax 1. A and B are partners in a firm. State by giving reasons whether their claims are valid if partnership deed is silent in following Matters :(a) B has Read More …
Advertisement Question 41 Chapter 1 – Class 12 Part 1 Unimax 41. The following are the Receipts and Payments A/c of Khana Club for the year ended 31st Dec., 2021 : Receipts Amount Payments Amount To Balance b/d 300 By Read More …
Advertisement Question 40 Chapter 1 – Class 12 Part 1 Unimax 40. Following is the Receipts and Payments A/c of the Shaheed Udham Singh Education Society for the year ended 31st March, 2021 : Receipts Amount Payments Amount To Read More …
Advertisement Question 39 Chapter 1 – Class 12 Part 1 Unimax 39. The following is the receipt and Payment account of the ‘Bhartiya Gymkhana Club’ for the year ending 31st December, 2021 : Receipts Amount Payments Amount To Read More …
Advertisement Question 38 Chapter 1 – Class 12 Part 1 Unimax 38. The following is the Receipts and Payments Account of Sydney Club for the year ended on 31.3.2021 Receipts Amount Payments Amount To Opening Balance Cash 10,000 By Read More …
Advertisement Question 37 Chapter 1 – Class 12 Part 1 Unimax 37. Following is the Receipt and Payment Account has been prepared from the cash book of the Ganges Club, Kapurthala : Receipts Amount Payments Amount To Balance(1.1.2021) 255 By Read More …
Advertisement Question 36 Chapter 1 – Class 12 Part 1 Unimax 36. Following is the Receipt and Payment Account of a Drama Club for the year ended 31.12.2021 : Receipts Amount Payments Amount To Balance(1.1.2021) 1110 By Salaries 680 To Read More …
Advertisement Question 35 Chapter 1 – Class 12 Part 1 Unimax 35. The following is a summary of cash transactions of Satluj Club for the year ended 31.12.2021 : Receipts Amount Payments Amount To Balance of last year 480 By Read More …
Advertisement Question 34 Chapter 1 – Class 12 Part 1 Unimax 34. The following is the Receipts and Payments Account of a Club for the year ended 31.12.2021 Receipts Amount Payments Amount To Cash in hand 1000 By Bank overdraft Read More …
Advertisement Question 33 Chapter 1 – Class 12 Part 1 Unimax 33. The following is a summary of the cash transactions of a debating society for the year ended 31st March, 2021 : Receipts Amount Payments Amount To Balance from Read More …
Advertisement Question 32 Chapter 1 – Class 12 Part 1 Unimax 32. On 1st January 2021, the assets and liabilities of a Literary Society are as follows :Cash Rs. 212 ; Office Furniture Rs. 350 ; 4% Rs. 600 Municipal Read More …
Advertisement Question 29 Chapter 1 – Class 12 Part 1 Unimax 29. The Panjab Club started its activities on 1.4.2020. The following is the Receipts and Payments Accounts of the Club for the year ending 31.3.2021. Prepare an Income & Read More …
Advertisement Question 28 Chapter 1 – Class 12 Part 1 Unimax 28. The following is the Receipts and Payments Account of the Social Club in respect of the year ended 31.3.2021 Receipts Amount Payments Amount To balance of cash Read More …
Advertisement Question 27 Chapter 1 – Class 12 Part 1 Unimax27. From the following Receipts and Payments Account of the Missionary Educational Society for the year ending 31.3.21, prepare Income and Expenditure and a Balance Sheet. Receipts Amount Payments Amount Read More …
Advertisement Question 26 Chapter 1 – Class 12 Part 1 Unimax 26. From the following information and Receipts and Payments Account of Krishna Nagar Club, prepare an Income and Expenditure Account for the year ending 31st December, 2012 and a Read More …
Advertisement Question 25 Chapter 1 – Class 12 Part 1 Unimax 25. The following is the Receipts and Payments Account for the Punjabi Bagh Club for the year ended on 31st December 2021 Receipts Amount Payments Amount To balance B/d Read More …
Advertisement Question 24 Chapter 1 – Class 12 Part 1 Unimax 24. The following particulars relate to Madura Club for the year ending 31st December 2021 Receipts Amount Payments Amount To balance B/d 600 By Salaries 1,245 To Subscription Read More …
Advertisement Question 23 Chapter 1 – Class 12 Part 1 Unimax 23. From the following Receipts and Payments Account of Mumbai Club, prepare Income & Expenditure Account for the year ended 31st December 2021 and its Balance Sheet as on Read More …
Advertisement Question 22 Chapter 1 – Class 12 Part 1 Unimax 22. The following is the Receipts and Payments Account for the Indian Gymkhana for the year ended 31st December 2021 : Receipts Amount Payments Amount To Donations 50,000 By Read More …
Advertisement Question 21 Chapter 1 – Class 12 Part 1 Unimax 21. The value of furniture in the beginning ₹ 40,000 and at the end Rs. 45,000. During the year furniture sold for Rs. 10,000 and total depreciation charged during Read More …
Advertisement Question 20 Chapter 1 – Class 12 Part 1 Unimax 20. Calculate the amount of depreciation to be charged on surgical equipment during the year 2012. The value of surgical equipment on 1st Jan. 2021 was Rs. 1,50,000 and Read More …
Advertisement Question 19 Chapter 1 – Class 12 Part 1 – 2021 Unimax 19. Show the following information in the Balance Sheet of a Sports Club for the year ended 31st Dec. 2021. Particulars Dr. Balance Cr. Balance Sports Fund Read More …
Advertisement Question 17 Chapter 1 – Class 12 Part 1 Unimax 17. What amount of depreciation will be charged on Sports Equipments. Purchase of Sport Equipments ₹ 1,500. Sale of Sports Equipments ₹ 2,000 during the year. The solution of Read More …
Advertisement Question 16 Chapter 1 – Class 12 Part 1 Unimax 16. How will you treat the following information while preparing Income and Expenditure A/c of Dashmesh Sports Club. Tournament Fund (Opening) 14,000 Donations for tournament fund 2,400 Expenses for Read More …
Advertisement Question 15 Chapter 1 – Class 12 Part 1 Unimax 15. Subscription received during the year ending 31st Dec. 2021- Rs. 10,500. This amount includes Rs. 600 pertaining to the year 2022 and Rs. 500 pertaining to the year Read More …
Advertisement Question 14 Chapter 1 – Class 12 Part 1 Unimax14. What amount of subscriptions will be shown as income for the year 2021 : Subscription received for 2020 600 2021 14,000 2022 800 The solution of Question 14 Chapter Read More …
Advertisement Question 13 Chapter 1 – Class 12 Part 1 Unimax 13. The following figures (all in Rs.) relate to a non-trading concern : 1st January, 2021 stock of medicines 5000 1st January, 2021 outstanding creditors for medicines 3000 Amount Read More …
Advertisement Question 12 Chapter 1 – Class 12 Part 1 Unimax12. What amount will be posted to the Income and Expenditure account as regards stationery? Stock of stationery in hand on 1.1.2021 300 Payment made for stationery during the year Read More …
Advertisement Question 11 Chapter 1 – Class 12 Part 1 Unimax 11. What amount of ‘medicines’ be posted in the Income and Expenditure A/c? The stock of medicines on 1.1.2021 600 Creditors for medicines on 1.1.2021 400 The stock of medicines Read More …
Advertisement Question 10 Chapter 1 – Class 12 Part 1 Unimax 10. Find out income from subscriptions during the year : Received during the year 7500 Outstanding at the beginning of the year 1000 Received in advance for the next Read More …
Advertisement Question 9 Chapter 1 – Class 12 Part 1 Unimax 9. Find out income from subscriptions during the year ending 2021 : Subscriptions received during the year 12000 Subscription outstanding at the beginning of the year 2000 Subscription received Read More …
Advertisement Question 8 Chapter 1 – Class 12 Part 1 Unimax 8. From the following information calculate the amount of subscriptions to be credited to the Income & Expenditure Account for the year 2020-21. Subscription received during the year 3,60,000 Read More …
Advertisement Question 7 Chapter 1 – Class 12 Part 1 Unimax 7. Calculate the amount to be posted to the Income and Expenditure Account for the year ending 31.12.2021 in respect of ‘Stationery’. Stock of Stationery on Jan. 1, 2021 Read More …
Advertisement Question 6 Chapter 1 – Class 12 Part 1 Unimax 6. What amount of ‘Stationery’ be posted in the Income and Expenditure A/c ? Stock of Stationery on Jan. 1, 2021 300 Creditors for stationery on Jan. 1, 2021 Read More …
Advertisement Question 5 Chapter 1 – Class 12 Part 1 Unimax 5. Find out the amount of subscription to be posted to the Income and Expenditure account of Lions Club for the Accounting year ending Dec. 2021 from the following Read More …
Advertisement Question 4 Chapter 1 – Class 12 Part 1 Unimax 4. There are 1,125 members in an institution, each paying an annual subscription of Rs. 10 each. Subscription received in advance at the beginning and at the end of Read More …