DK Goel Solutions Class 12 Accountancy Chapter 9 Company Accounts Redemption of Debentures

Short Answer Questions Question 1.    Solution  1          1.) Utilise Rs. 10,00,000 to write off Underwriting Commission. 2.) Utilise Balance Rs. 12,00,000 to write off Premium on Redemption of 9% Debentures…

DK Goel Solutions Class 12 Accountancy Chapter 8 Company Accounts Issue of Debentures

Short Answer Questions Question 1.    Solution 1        Debentures may be issued either at par, at premium or at a discount. Issue of Debentures at Par:-   Issue of Debentures at Discount:- There are no restrictions…

DK Goel Solutions Class 12 Accountancy Chapter 7 Company Accounts Issue of Share

Short Answer Questions Question 1.      Solution  1     Question 2.     Solution 2         At least 5% of share application money of the nominal value of shares. The Application money…

DK Goel Solutions Class 12 Accountancy Chapter 6 Dissolution of a Partnership Firm

Short Answer Questions Question 1.     Solution  1          Below are the circumstances under which a firm is dissolved:- 1.) When a partner has become of unsound mind. 2.) When  a partner, other than…

DK Goel Solutions Class 12 Accountancy Chapter 5 Retirement or Death of a Partner

 Short Answer Questions Question 1.   Solution  1.         Goodwill earned by the firm is the result of the efforts of all the existing partners in the past. A part of the future profits will accruing because of the present…

DK Goel Solutions Class 12 Accountancy Chapter 4 Admission of a Partner

 Short Answer Questions Question 1. Solution 1           Below are the matters that need adjustments at the time of admission of a partner:- (i) Adjustment of Accumulated Profit, Reserves and Losses. (ii) Adjustment of…

DK Goel Solutions Class 12 Accountancy Chapter 3 Change in Profit Sharing Ratio Among the Existing Partners

Short Answer Questions Question 1. Solution  1. A firm is reconstituted on the occasions of :- 1.) Change in the profit sharing ratio among the existing partners. 2.) Admission of an existing partner. 3.) Retirement of an existing partner. 4.) Death of a…

DK Goel Solutions Class 12 Accountancy Chapter 2 Accounting for Partnership Firms Fundamentals

Short Answer Questions Question 1.  Solution 1. 1.) Sharing of Profit/Losses:- Profit/Losses are shared equally by the partners. 2.) Interest on Capital:- Interest on capital is not paid to partners. 3.) Interest on Drawings:- Interest on drawings in not charged from…

DK Goel Solutions Class 12 Accountancy Chapter 1 Financial Statements of Not for Profit Organisations

Short Answer Questions Question 1.  Solution  1.   Features of Receipts and Payments Account:   1.) Capital and Revenue: It records all receipts and payments whether they are of revenue nature or capital nature. 2.) Period: It records cash and…