Class 12th Accountancy 2017 Set1 Delhi Board Paper Solution
State the objectives of ‘Analysis of Financial Statements’.
Objectives of ‘Analysis of Financial Statements’ is as follows:
1) To assess the earning capacity and profitability of the organisation.
2) To assess the efficiency of managers as well as business by calculating finanical rations and look at the trend at their variations.
3) To provide meaningful information about changes in the financial data over time via comparisions of related datas.
4) To assess the solvency position of the organisation to know the ability to pay its short term and long term debt.
5) To assess the future of the organisation by preparing budgets and forecasting.
Popular Questions of Class 12th accountancy
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What is Capital Fund? How is it calculated?
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What is sacrificing ratio? Why is it calculated?
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
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Why there is need for the revaluation of assets and liabilities on the admission of a partner?
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What is subscription? How is it calculated?
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List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating. - Q:-
Why is Profit and Loss Adjustment Account prepared? Explain.
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If some goodwill already exists in the books and the new partner brings in his share of goodwill in cash, how will you deal with existing amount of goodwill?
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Why it is considered desirable to make the partnership agreement in writing.
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On what occasions sacrificing ratio is used?
Recently Viewed Questions of Class 12th accountancy
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What is Capital Fund? How is it calculated?
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What are the features of Receipt and Payment Account?
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On what occasions sacrificing ratio is used?
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Reena and Raman are partners with capitals of Rs. 3,00,000 and Rs. 1,00,000 respectively. The profit for the year ended March 31, 2017 was Rs. 1,80,000, before paying rent for her personal building to be used as godown for firm to Reena payable at Rs. 5000 per month. Interest on capital is to be allowed at 6% p.a. Raman was entitled to a salary of Rs. 30,000 p.a. The drawings of partners were Rs. 30,000 and 20,000. The interest on drawings to be charged to Reena was Rs. 1,000 and to Raman, Rs. 500.
Assuming that Reena and Raman are equal partners. State their share of profit after necessary appropriations.
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State the difference between dissolution of partnership and dissolution of partnership firm.
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Priya and Kajal are partners in a firm, sharing profits and losses in the ratio of 5:3. The balance in their fixed capital accounts, on April 1, 2016 were: Priya, Rs. 6,00,000 and Kajal, Rs. 8,00,000. The profit of the firm for the year ended March 31, 2017 was Rs, 1,26,000. Calculate their shares of profits: (a) when there is no agreement in respect of interest on capital, and (b) when there is an agreement that the interest on capital will be allowed @ 12% p.a.
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What is sacrificing ratio? Why is it calculated?
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Define Partnership Deed.
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Why is Profit and Loss Adjustment Account prepared? Explain.
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What steps are taken to prepare Income and Expenditure Account from a Receipt and Payment Account?