HSC Commerce (English Medium) इयत्ता १२ वी - Maharashtra State Board Question Bank Solutions for Book Keeping and Accountancy

Write a word/phrase/term which can substitute the following statement.

Name the method of the treatment of goodwill where new partner will bring his share of goodwill in cash.

State True or False with reason.

When goodwill is paid privately to the partners, it is not recorded in the books.

State True or False with reason.

A new partner always bring his share of goodwill in cash.

State True or False with reason.

Cash/ Bank Account is credited when goodwill is withdrawn by the old partners.

Find the Odd one.

Why is a new partner admitted?

What is the super profit method of calculation of goodwill?

State the ratio in which the old partner’s Capital A/c will be credited for goodwill when the new partner does not bring his share of goodwill in cash?

Profit for 2015, 2016 & 2017 is ₹ 10,000, ₹ 15,000 & ₹ 25,000. Calculate average profit.

Fill in the blank.

______  =  `("Total Profit")/("Number of Years")`

Complete the following Table:

Goodwill is to be valued on the basis of 2 years purchases of last 5 years average profit. The profits and losses of last five years were as follows :

Find out value of Goodwill.

Find out super profit, if capital employed is ₹ 4,00,000, normal rate of return is 12% and average profit is ₹ 60,000.

______ means profit which is earned over and above the normal profit.

______ = Average profit x No. of years of purchase

Select the appropriate answer from the alternatives given below & rewrite the completed statement :
The common size statement requires _____________.

Give one word/term/ phrase for the following statement
The tool for analysis of financial statement where, individual figures of balance sheet is converted into percentage.

Explain the following :
Common size balance sheet.

Solve the following:
In common size balance sheet fixed assets are Rs 50,000 and balance sheet total as Rs 1,50,000. Find out percentage of fixed assets to total assets.

(Under Subscription)
Usha Co. Ltd. issued Rs 12,000 Equity shares of Rs 100 each payable as under-

Public applied for Rs 10,000 shares and all the applicants were accepted by the company. Allotment of the shares were made. All the money on allotment, first call and second call were received.
Show the journal of the Company.