Question

mani &co produces a product through two process “j” and “K”. prepare the process accounts from the following details relating to march 2007.
Particulars
Process “J” Rs
Process “K” Rs
Materials
Labour
Chargeable expenses
55,000
20,000
10,000
20,000
30,000
10,000
The overheads amounting to Rs 18,000 are to be apportioned on the basis of labour.
​

Answer 1

Answer:

qwerty keyboard shortcuts to happiness and the big picture of the dark knight rises to the Ragnarok

Explanation:

TREATMENT OF GOODWILL

A and B are partners in a firm sharing profit ratio in the ratio 2 : 3. They admit C into partnership as a partner with 1/6th share in profits who brought Rs.70,000 as capital and Rs. 10,000 as his share of goodwill. The new profit sharing ratio agreed to be 3 : 2 : 1. Record these transactions in journal of firm.