Statement of Excess Capital is used when partners capitals are -------------- *
1 point
Answers
Answer:
State whether the following statements are True or False: (Any7). (07) ... To Realisation a/c 3,17,650 2,85,000 By Partners Capital a/c ... STATEMENT OF EXCESS CAPITAL.
Answer:
1) Stepwise Marking Scheme is provided for each answer.
2) Answer should be allotted step wise as shown.
3) Marks to be given even though answer is written in different possible way and it is logically
correct. (e.g . 1.In Final Account, Old RDD and Bad debts may be written in Credit and debit side
of P & L A/c instead of adjusting to each other. 2. In case of some combine journal entry student
may write separate entries.etc…)
4) In case of theory answers provided are suggestive so please see if student has written relevant
answer then give marks accordingly.
5) Whereas Full marks can be allotted even in theory answers if all aspects as per requirement are
covered in it.
6) If any query feel free to contact
Prof. Vijay Gawde [Chairperson] 84518 06842
Prof. Pratap Kadam 98191 48315
Prof. Mubeen Shaikh 9322123549
Q.1 A) Fill in the blanks with appropriate option.(Any 8) (08)
1. 6%
2. Divisible
3. Gradual
4. 3:2
5. Book
6. Realisation
7. Sale
8. Shares, debentures &/or other assets
9. Nominal
10. Profit & loss
Q. 1 B) State whether the following statements are True or False: (Any7) (07)
1) False
2) False
3) True
4) True
5) False
6) True
7) False
8) False
9) True
10) False