28 August Accounting For Business

ACCOUNTING FOR BUSINESS AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL

ACCOUNTING FOR BUSINESS Dr. T.K. Jain. AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email_address] www.afterschool.tk www.afterschoool.tk

What are essential features of a partnership? ,[object Object],[object Object],[object Object],[object Object]

I have given Rs. 1 lakh as loan to my firm, there is no express agreement. How much interest will I get? ,[object Object]

Ram and Shyam are partners. They have invested Rs. 10 Lakh and 5 Lakh respectively. Annual profit is Rs. 3 Lakh. What will be the share of Ram. There is no agreement regarding profit sharing? ,[object Object],[object Object]

Do we prepare P & L appropriation account for proprietory firm also? ,[object Object]

The net profit of the firm is 12 Lakh. X, Y, Z have capital Rs. 20 Lakh each. X has given a loan of Rs. 10 Lakh and demands interest @12%. Y demands salary Rs. 5 lakh. Z has taken drawings of Rs. 10 Lakh from the business and other partners are demanding interest from him. How will you divide profits? ,[object Object]

We have a provision to pay interest @ 5% on capital. My capital account shows capital of 10 Lakh and my current account shows balance of Rs. 5 Lakh. How much interest will I get? ,[object Object]

Is there any act for joint ventures also? ,[object Object]

I and Ram decide to work together to repair a bridge in 2 months. Is it partnership? ,[object Object]

My annual profits are Rs. 20000 each on capital employed of Rs. 70000. General rate of return is 20%. What is my super profit? ,[object Object],[object Object],[object Object]

In the previous question, what is my goodwill at 3 year super profit? ,[object Object]

What is my goodwill at 5 year annuity of superprofit? Rate = 15% ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

In the previous question, use capitalisation method to find my goodwill. Normal rate = 20%? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Lata, Khushboo and Anju are partners sharing profits in the ratio 3:2:1, they decide to change profit sharing ratio to 1:2:3. Who is gaining, and what is her gaining ratio? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

My profits for Last three years are 20000, 50000, and 1 Lakh. What is the difference if instead of normal profit, I go for weighted average profit? ,[object Object],[object Object],[object Object],[object Object],[object Object]

On joining the firm Nidhi gave a goodwill of Rs. 5000 only to Jayati. Their new profit sharing ratio is equal (Nidhi, Jayati and Sapna). The goodwill of the firm is 15000. What was their earlier profit sharing ratio? ,[object Object],[object Object],[object Object]

Goutam, Dhawal and Prateek are partners sharing profit equally. They take Ajay also. Goutam gives Ajay profit guarantee of 1 Lakh. They will now also share profits equally. Total profit is 2 Lakh, what is share of Ajay and Goutam? ,[object Object]

You have admitted a new partner. You have revalued all assets and goodwill. Balance sheet will show what ? ,[object Object]

ABOUT AFTERSCHOOOL ,[object Object]

Why such a programme? ,[object Object],[object Object],[object Object],[object Object]

Who are our supporters? ,[object Object],[object Object]

About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Workshops from AFTERSCHOOOL ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Flexible Specialisations: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Salient features: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Components ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Pedagogy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Basic values at afterschoool ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

www.afterschoool.tk social entrepreneurship for better society

28 August Accounting For Business

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28 August Accounting For Business