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Home /Doubts and Solutions/CBSE/Class 12 Commerce

CBSE Class 12 Commerce Free Doubts and Solutions

CBSE - XII Commerce - Accountancy

Q.32) Prepare Cash Flow Statement for the year ended 31st March 2019 from following Balance Sheets Particulars Note no. 31st March 2020(`) 31st March 2019(`) EQUITY AND LIABILITIES 1. Shareholders’ Funds a) Share Capital b) Reserves and Surplus 2. Non-Current Liabilities a) Long-Term Borrowings (10% Debentures) 3. Current Liabilities a) Short-term Borrowings (Bank Overdraft) b) Trade Payables c) Short term Provisions ASSETS 1. Non-Current Assets a) Tangible Assets b) Intangible Assets (Goodwill) c) Non-Current Investments 2. Current Assets a) Current Investments b) Inventories c) Trade Receivables d) Cash and Cash Equivalents 1 2 3 4 10,00,000 (20,000) 8,00,000 5,00,000 70,000 70,000 24,20,000 8,20,000 70,000 13,20,000 40,000 60,000 80,000 30,000 24,20,000 6,00,000 (1,50,000) 10,00,000 3,00,000 50,000 50,000 18,50,000 10,40,000 50,000 5,00,000 50,000 80,000 90,000 40,000 18,50,000 Notes to Accounts Particulars 31st March 2020(`) 31st March 2019(`) Additional Information: 1) Tax provided during the year ` 65,000. 2) 10% Debentures were redeemed on 1st oct.2019 3) During the year Machinery costing ` 70,000( Accumulated Depreciation ` 20,000) was sold at gain of 10% of book value. (6) Note no. 1 Share Capital Equity Share Capital Preference Share Capital Note No. 2 Reserves and Surplus Balance is Statement of Profit and Loss General Reserve Note No. 3 Short- term Provisions Provision for Tax Note No.4 Tangible Assets Land and Buildings Plant and Machinery Less: Accumulated Depreciation 5,00,000 5,00,000 (1,00,000) 80,000 70,000 5,00,000 4,00,000 (80,000) 3,20,000 3,00,000 3,00,000 (2,00,000) 50,000 50,000 8,00,000 3,00,000 (60,000) 2,40,000

Asked by harshj2003 14th June 2021, 12:23 AM
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CBSE - XII Commerce - Accountancy

A,B and C are partners in a firm sharing profits in the ratio of 3:2:1. Their capital as at 31st march 2017 is ` 80,000, ` 40,000 and ` 1,00,000 respectively. After the accounts for the year 2016-17 was prepared, it was discovered that interest on capital @ 10% was not provided at all and interest on drawings was charged @ 6%p.a. instead of actual rate of 8% p.a. Drawings of each partner were ` 20,000. Profits ( after charging interest on drawings) for the year ending 31st march 2017 is ` 1,20,000. Pass necessary adjustment entry.

Asked by harshj2003 13th June 2021, 10:18 PM
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CBSE - XII Commerce - Business Studies

This is my question

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Asked by sudhamishra995681 10th June 2021, 9:01 AM
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CBSE - XII Commerce - Business Studies

Given below is the Receipts and payments Account of Vinod Sports Club for the year ended 31.12.2008 Receipts Balance of Cash Balance of Bank Subscriptions Life Membership Fee Tournament Fund Locker Rent Sale of old sports material (costing 5,000) Sale of old newspapers Legacy Entrance Fee Additional information: Amount 400 3,600 8,000 15,000 2,000 3,000 2,000 10,000 5,000 60,000 Payments Salaries Billiard Table Office Expenses Stationery Tournament Expenses Fumiture purchased Sports equipment purchased FD on 1.1.2008 @ 12% pa. Balance of Cash Balance of Bank Amount 10,000 5,000 3,400 2,700 16,000 5,000 6,000 5,900 200 2,800 60,000 On 1.1.2008 subscriptions outstanding were Rs.800 and on 31 December 2008 Rs.900. On 1.1.2008 the club had Building Rs.50, 000; Furniture Ks.20,000 and Sports Equipment Rs.14,000. Charge depreciation @10%% on these items (including purchases). Prepare income and Expenditure Account:

Asked by saraswati0736 9th June 2021, 12:46 PM
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CBSE - XII Commerce - Accountancy

The directors of XYZ limited forfeited 200 shares of Rs 20 /- each for non payment of first and final call of Rs 5/- per share . These shares were reissued at Rs 20 /- per share fully paid . Pass necessary journal entries..

Asked by ikshakalle29 5th June 2021, 4:42 PM
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CBSE - XII Commerce - Accountancy

Business of ABC Ltd. has been acquired by PQC Ltd. for a net consideration of Rs. 6,00,000. Total assets acquired were valued at Rs. 9,50,000 and liabilities taken over were Rs. 5,00,000. Find the amount paid towards the goodwill of the company by the purchaser.

Asked by sonukuma1084 3rd June 2021, 4:48 PM
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CBSE - XII Commerce - Accountancy

Apr 1 opening balance 10850 kgs at ₹ 130  apr 2 purchased 20000 kgs at ₹ 134 per kg  apr 3 issued 6750  apr 5 issued 8500  apr 6 received back from production department 550 kgs  apr 7 purchased. 17550 kgs at ₹ 128 per kg  apr 8 issued 11250 kgs  apr 9 physical verification revealed loss of 250 kgs  apr 10 issued 8950  apr 12 issued 6300  prepare stores ledger account under LIFO method 

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Asked by Kavyanaidu1122001 28th May 2021, 10:03 AM
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CBSE - XII Commerce - Accountancy

Hbsbshs

Asked by Ca.gargsiddharth 25th May 2021, 1:25 PM
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CBSE - XII Commerce - Economics

what is meaning of aggregate demand

Asked by yashwanthsnaik2003 24th May 2021, 1:44 PM
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CBSE - XII Commerce - Accountancy

Raj and John are partners sharing profits and losses in the ratio of 3 : 2. They agree to admit Shani into partnership who is to get 1/6™ share in profit. He acquired this share 1/24" from Raj and 1/8" from Jhon. Calculate the new profit-sharing ratio and sacrificing ratio.

Asked by anupdas0813 22nd May 2021, 3:42 PM
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