Question

PART-A (Marks : 44)
the following questions (alternatives are to be noted):
A, B and C were partners in a firm with capital of 6,00,000; 5,00,000 and 3,00,000
respectively on 1.1.18. C advanced 1,00,000 on 1.7.18.
The partnership deed contained following clauses:
(i) Interest on capital @ 6%p.a. (l) Interest on drawings @ 6% p.a. Each drew 40,000 on
1.7.18 (ul) A and B get salary of 2000 and 3000 per months. (iv) Interest on loan was given to
C@6%p.a. (v) Profits and losses to be shared in the ratio of 4:2:1 upto * 7,00,000 and
above 7,00,000 equally. Net profit of the firm before above adjustments was 11,10,000.
Prepare Profit and Loss Appropriation A/c for the year 2018.
OR, Distinguish between Profit and Loss Account and Profit and Loss Appropriation account. 4
RJ Ltd. forfieted 500 shares of 10 each fully called up for non-payment of final call money
of 4 per share. These shares are subsequently re-issued at 8 per share. Pass necessary
Journal entries in the books of RJ Ltd.
(2+2)
OR, Write short notes on the following:
(a) Forfeiture of shares (b) Paid up capital
T. Ltd. purchased a running business from L. Ltd. for sum of 14,00,000 payable
d for the balance, it issued 8% debenture of 100 each at a pre-​

Answer 1

Are you crazy asking such lame questions

Ask some easy ones not big

☣️ Mahi