State the steps to change conditional formatting.
Following are the steps to change conditional formatting:
1. Make sure appropriate worksheet, table is selected in the show formatting rules for list box.
2. Optionally change the range of cells by clicking collapse dialog in the applies to box to temporarily hide and then select Expand dialog.
3. Select the rule, and then click Edit Rule. The Edit formatting rule dialog box is displayed.
4. Under select a rule type, click Format all cells based on their values
5. Under Edit the Rule Description in Format style list box, select 3-colour scale.
6. To select Minimum and Maximum type (any one of the following):
(i) Format highest and lowest value select lowest and highest value. In this case, we do not enter maximum or minimum value.
(ii) Format a number, date or time value select niumber and then enter minimum and maximum value.
What is Capital Fund? How is it calculated?
What is sacrificing ratio? Why is it calculated?
If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
Why there is need for the revaluation of assets and liabilities on the admission of a partner?
What is subscription? How is it calculated?
List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating.
Why is Profit and Loss Adjustment Account prepared? Explain.
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?
Why it is considered desirable to make the partnership agreement in writing.
On what occasions sacrificing ratio is used?
Define Partnership Deed.
Why it is necessary to ascertain new profit sharing ratio even for old partners when a new partner is admitted?
Why is Profit and Loss Adjustment Account prepared? Explain.
What is subscription? How is it calculated?
State the accounting treatment at the time of dissolution of a firm for:
i. Unrecorded assets ii. Unrecorded liabilities
What steps are taken to prepare Income and Expenditure Account from a Receipt and Payment Account?
What is a Realisation Account?
List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating.
Identify various matters that need adjustments at the time of admission of a new partner.
Why it is considered desirable to make the partnership agreement in writing.