Escolar Documentos
Profissional Documentos
Cultura Documentos
3. On 10th March, 2009 Rajesh Bhoyar, Gandhinagar, Nagpur draws a 2 months bill for Rs.
3,000 on Samir Choudhary, Main Road, and Belapur. Samir Choudhary accepted the bill on
15th March 2009.
4. From the following particulars, value good will of 2yrs. Purchase of last 5 years.
Year Turn Net
ended over profit
31-12- 5,15,0 5%
1990 00
6%
31-12- 5,45,6
7%
1991 00
7.5%
31-12- 5,35,8
1992 00 7%
31-12- 5,40,9
1993 00
31-12- 5,60,8
1994 00
5. Baloo owes Kaloo Rs.8000. Kaloo then draws a bill for Rs. 8000 on Baloo for a period of
three months. Baloo accepts and return it to Kaloo. Kaloo discounted the bill with his bank
at 12 % p.a. On due date, the bill was dishonoured noting charges amount to Rs. 30. Kaloo
then draws a bill for the balance plus interest of Rs. 170. Before the due date of this bill
Baloo pays the amount at a discount of Rs. 40 to retire the bill. Pass Journal Entries in the
books of Kaloo.
7. Suresh and Ramesh entered into a joint venture to construct a building at a contract
price of Rs. 7,00,000. They agreed to share profits and losses in the ratio of 2:1. Suresh
deposited Rs. 5,00,000 and Ramesh Rs. 1,00,000 into joint bank. The transactions were as
follows.
1.
2. Purchase of materials Rs. 3,50,000
3. Tools and equipment Rs. 1,00,000.
4. Wages Rs. 1,20,000
5. Architect fees Rs. 25,000
Besides these, Suresh supplied material worth Rs. 15,000 and Ramesh supplied
material worth Rs. 13,500. Building was ready and contract price received. Prepare
Joint venture A/c, Joint Bank A/c & Co – Venturer’s A/c.
8. Sudhir and Narendra Signed a contract jointly to construct an office building for Abhay
Enterprises Ltd. The contract price was Rs. 2,50,000. They opened a Joint Bank Account and
deposited Rs. 1, 20,000 and Rs. 60,000 respectively. They agreed to share the profits and
losses in the ration of 3/5th and 2/5th respectively. The following transaction was made from
the Joint Bank Account. Wages Rs. 70,000 Materials purchased Rs. 1,25,000 Apart from the
above transactions, Sudhir supplied material of Rs. 12,000 and Narendra paid the
architect’s fees Rs. 2500. On completion of the construction, Abhay Enterprises Ltd. paid
full amount. There was unused stock of materials which was taken over by Narendra at Rs.
15000. Prepare Joint venture A/c, Joint Bank A/c & Co – Venturer’s A/c.
Sunday, June 07, 2009
9.
3. A firm with an average capital employed of Rs. 1, 60,000 is expected to earn Rs,
40,000 per annum in future. Calculate goodwill at three times the super profit taking
the normal rate of return as 15%.
4. Sagar owes Sindhu Rs. 8000 Sagar accepted a bill for 3 months by Sindhu for Rs.
8000. Sindhu discounted the bill with bank at Rs. 7800. On the due date, the bill was
dishonoured. Noting charges amounted to Rs. 20. Sagar Paid half the amount of the
bill and full amount of the noting charges including interest of Rs. 100. Pass journal
entries in the books of Sindhu and show the account of Sagar.