TS Grewal Accountancy Class 12 Solutions Chapter 10 Redemption of Debentures Question 1. A public limited company is a manufacturer of chemical fertilisers. Its annual turnover is ₹ 50 crores. The company had issued 5,000, 12% Debentures of ₹ 500 each at par. Calculate the amount of Debentures Redemption Reserve which needs to be created…
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TS Grewal Accountancy Class 12 Solutions Chapter 9 Issue of Debentures Question 1. Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows: ₹ 25 on application; ₹ 25 on allotment and ₹ 50 on first and final call. Applications were received for all the debentures along with the application money did…
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TS Grewal Accountancy Class 12 Solutions Chapter 8 Accounting for Share Capital Question 1. Gopal Ltd. was registered with an authorised capital of ₹ 50,00,000 divided into Equity Shares of ₹ 100 each. The company offered for public subscription all the shares. Public applied for 45,000 shares and allotment was made to all the applicants.…
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TS Grewal Accountancy Class 12 Solutions Chapter 7 Company Accounts Financial Statements of Not-for-Profit Organisations Organisations Question 1. From the following particulars of Evergreen club, prepare Receipts and payments Account for the year ended 31st March,2018: Solution: Question 2. How are the following items shown in the accounts of a Not-for-Profit Organisation ? Solution: Question…
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TS Grewal Accountancy Class 12 Solutions Chapter 6 Dissolution of Partnership Firm Question 1. What journal entries would you pass in the following cases? (a) Expenses of realisation ₹ 1,500. (b) Expenses of realisation ₹ 600 but paid by Mohan, a partner. (c) Mohan, one of the partners of the firm was asked to look…
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TS Grewal Accountancy Class 12 Solutions Chapter 5 Retirement / Death of a Partner Question 1. A, B and C were partners sharing profits in the ratio of 1/2, 2/5 and 1/10. Find the new ratio of the remaining partners if C retires. Solution: Question 2. Ram, Mohan and Sohan were partners sharing profits in…
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TS Grewal Accountancy Class 12 Solutions Chapter 4 Admission of a Partner Question 1. X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2 . They admit A into partnership and give him 1/5th share of profits. Find the new profit-sharing ratio. Solution: Question 2. Ravi…
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TS Grewal Accountancy Class 12 Solutions Chapter 3 Change in Profit – Sharing Ratio Among the Existing Partners Question 1. A and B are sharing profits and losses equally. With effect from 1st April, 2018, they agree to share profits in the ratio of 4 : 3. Calculate individual partner’s gain or sacrifice due to…
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TS Grewal Accountancy Class 12 Solutions Chapter 2 Goodwill: Nature and Valuation Question 1. Goodwill is to be valued at three years purchase of four years average profit. Profits for last four years ending on 31st March of the firm were: 2015 ₹ 12,000; 2016 ₹ 18,000; 2017 ₹ 16,000; 2018 ₹ 14,000. Calculate amount…
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TS Grewal Accountancy Class 12 Solutions Chapter 1 Accounting for Partnership Firms – Fundamentals Question 1. In the absence of Partnership Deed, what are the rules relation to (a) Salaries of partners, (b) Interest on partners capitals (c) Interest on partners loan (d) Division of profit, and (e) Interest on partners drawings Solution: Question 2.…
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