Class 12th Accountancy 2017 Set3 Delhi Board Paper Solution
Name the table which is an interactive way to quickly summarize large amounts of data. State its any five advantages
The table which is an interactive way to quickly summarize large amounts of data is Pivot table
Advantages of Pivot Table are:
i. User friendly
ii. Focus on results
iii. Multiple summarisation of data
iv. Filtering, sorting, grouping etc. Makes it possible to focus on information.
v Presenting concise, attractive and annotated online or printed reports.
vi Analysis of related tables is facilitated (with suitable explanation)
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?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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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:-
Distinguish between firm’s debts and partner’s private debts.
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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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What is subscription? How is it calculated?
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State the difference between dissolution of partnership and dissolution of partnership firm.
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Illustrate how interest on drawings will be calculated under various situations.
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On what account realisation account differs from revaluation account.
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Write the various matters that need adjustments at the time of retirement of partner/partners.
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Discuss the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts if there is no partnership deed.
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What is meant by partnership? Explain its chief characteristics? Explain.