198
(i)
auctioneer's commission amounted to * 2,000.
Office equipment of 90,000 was taken over by creditors of the
(ii)
(iii)
(iv)
Umang had given a loan of = 1,09,000 to the firm. He accepted
1,00,000 in full settlement of his loan.
Investments were = 53,000 out of which 23,000 was taken over
by Neeraj at 25,000. Balance of the investments were sold for
35,000.
Expenses incurred on dissolution were * 21,000 and were paid by
Prateek.
(v)
7
(vi) Loss on dissolution amounted to 40,000.
Pass the necessary journal entries for the above transactions in the books
of the firm.
6.
losses in the ratio of 7:2:1. The firm was dissolved on 31st March, 2019.
Prateek, Neeraj and Umang were partners in a firm, sharing profits and
After transfer of assets (other than cash) and external liabilities to the
Realisation Account, the following transactions took place :
Furniture of 45,000 was sold by auction for * 66,000 and the
book value of * 82,000 in full settlement.
Answers
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Answer:
The Steps
A discount is a deduction from a certain amount. So being able to calculate a discount tells you how much money off of a certain dollar amount you're taking. To calculate a 10 percent discount, there are only two steps you need to follow.
Step 1 is to convert your percentage to a decimal. To convert your 10 percent into a decimal, you divide by 100.
10 / 100 = 0.1
This tells you that 10 percent as a decimal is 0.1. If you can remember that 10 percent is 0.1, you'll be able to solve this type of problem quickly and easily, no matter what your original amount is.
Step 2 is to multiply your original price by your decimal. When you are working with a 10 percent discount, you will always multiply your original price by 0.1, which is 10 percent as a decimal. When we put these steps together, we get the formula for calculating a 10 percent discount, which is:
original price * 0.1 = discount