CBSE Class 12 Accountancy Important Formulas
Formulas 1. Interest on capital = Opening capital x Rate/100 2. Interest on Drawing (i) Simple Method: Interest on Drawing = Amount of Drawing x Rate of Interest/100 x months/12 (ii) Product Method Interest on Drawings = Total of products x Rate / 100*12 (iii) Fixed amounts…
CBSE Class 12 Accountancy Cash Flow Statement Notes Set A
Cash Flow Statement It is a statement that shows flow of cash and cash equivalents during the period under report. The statement net increase or decrease of cash and cash equivalents under each activity separately- operating, investing and financing as well as…
CBSE Class 12 Accountancy Analysis Of Financial Statements Notes
Financial Statements: Financial statements are the end products of accounting process, which reveal the financial results of a specified period and financial position as on a particular date. These statements include income statement and balance sheet. The basic objective…
CBSE Class 12 Accountancy Accounting For Partnership Firms Notes
Meaning and Definition According to Section 4 of the Partnership Act 1932 “Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all” Features of partnership Firm 1) Association of two or…
CBSE Class 12 Accountancy Accounting For Companies Notes
Company Accounts - Accounting for Share Capital Meaning of company: A company is an organization formed by an association of persons through a process of law for undertaking (usually) a business venture. Definition –“Company means a company incorporated under this Act or any…
CBSE Class 12 Accountancy Partnership Ratio Analysis Notes
BALANCE SHEET As at 31st March, 2012 Particulars I. EQUITY AND LIABILITIES Equity Share Capital…
CBSE Class 12 Accountancy Partnership Fundamentals Notes
• Integrity. • Professional competence with due care • Commitment to excellence • Transparency • Objectivity and independence • Confidentiality • Communicating the material information • Analysis, problem solving and critical thinking • Admitting errors and rectifying them…
CBSE Class 12 Accountancy Partnership Guarantee Of Profits Notes
ended on December 31, 2012 amounted ˆ60,000. Any excess payable to C on account of such guarantee shall be borne by A and B in equal ratio. Prepare a profit and loss appropriation account to show the distribution of profits as per terms of partnership deed. Solution---- C…
CBSE Class 12 Accountancy Partnership Common Size And Comparative Statements Notes
Hint: Direct expenses are ignored since they are already included in the cost of goods sold. Prepare a Comparative Income Statement from the following information Question-- Solution 3. Comparative Income Statement for the years ended on 31st March 2009 and 2010 Note…
CBSE Class 12 Accountancy Partnership Cash Flow Statement Notes
CBSE Class 12 Partnership - Cash-Flow Statement Notes. Learning the important concepts is very important for every student to get better marks in examinations. The concepts should be clear which will help in faster learning. The attached concepts made as per NCERT and CBSE…
CBSE Class 12 Accountancy Partnership Accounting For Issue Of Share Capital Notes
Other Current/Non-Current Assets: Unamortized Expenses (Share Discount) 36,000 Current Assets: Cash and Cash Equivalents (Cash at Bank) 3,24,000 3,60,000 Notes to Accounts: ` ` Share Capital Authorised Capital -------- Issue Capital: 40,000 Shares…
CBSE Class 12 Accountancy Implementation Of Schedule VI Of Companies Act Notes
COMPANY ACCOUNTS IMPLEMENTATION OF SCHEDULE VI OF COMPANIES ACT General Instructions- • Revised Schedule VI applicable on all the companies with effect from 1stApril, 2011 • In case of any controversy, Accounting Standards will prevail over the Schedule; • Only Vertical format…
CBSE Class 12 Accountancy Retirement Or Death Of A Partner Notes
CBSE Class 12 Retirement or Death of a Partner. Learning the important concepts is very important for every student to get better marks in examinations. The concepts should be clear which will help in faster learning. The attached concepts made as per NCERT and CBSE pattern…
CBSE Class 12 Accountancy Redemption Of Debenture Notes
CHAPTER 9 Redemption of Debenture Meaning : Redemption of debentures means repayment of the due amount of debentures to the debenture holders. It may be at par or at premium. Time of redemption : (a) At maturity : when repayment is made at the date of maturity of debentures…