Upload File

accumulated profit and losses

1
Partner’s Capital Account Class XII Accountancy Unit: Partnership Chapter: Admission of Partner Topic: Treatment of Accumulated profits and Accumulated losses Particulars Amount Particulars A Amount P & L Account (Dr. Balance) Deferred Revenue Expenditure ****** ****** ****** ****** ****** P & L Account (Cr. Balance) General Reserve Contingency Reserve Workmen compensation Fund Investment Fluctuation Fund ****** ****** ****** ****** ****** Liabilities Amount Assets Amount P & L Account (Cr. Balance) General Reserve Contingency Reserve Workmen compensation Fund Investment Fluctuation Fund ****** ****** ****** ****** ****** P & L Account (Dr. Balance) Deferred Revenue Expenditure ****** ****** Treatment Journal entry Accumulated profits Credited in the old partner’s capital Reserves A/c Dr Profit & Loss A/c(Profit) Dr. To Old Partner’s Capital A/c [individually] Accumulated losses Debited in the old partner’s capital Old Partner’s Capital A/c Dr. [individually] To Profit and Loss A/c [Loss] Balance Sheet Old Partners In Old Ratio Partner Mohan and Sohan Ratio 2:1 Meena is admitted as new Partner For 1/4 th share Old Balance Sheet General Reserve `30,000 P & L Account (Dr. Balance) ` 6,000 Reserves A/c Dr 30,000 To Mohan’s Capital A/c 20,000 To Sohan’s Capital A/c 10,000 Mohan’s Capital A/c 4,000 Sohan’s Capital A/c 2 ,000 To Profit and Loss A/c 6,000

Upload: mamta-narula

Post on 15-Jul-2015

459 views

Category:

Education


4 download

Report

TRANSCRIPT

Page 1: Accumulated profit and losses

Partner’s Capital Account

Class XII Accountancy

Unit: Partnership

Chapter: Admission of Partner

Topic: Treatment of Accumulated profits and Accumulated losses

Particulars Amount Particulars A Amount

P & L Account (Dr. Balance) Deferred Revenue Expenditure

******

******

******

******

******

P & L Account (Cr. Balance) General Reserve

Contingency Reserve

Workmen compensation Fund

Investment Fluctuation Fund

******

******

******

******

******

Liabilities Amount Assets Amount

P & L Account (Cr. Balance) General Reserve

Contingency Reserve

Workmen compensation Fund

Investment Fluctuation Fund

******

******

******

******

******

P & L Account (Dr. Balance) Deferred Revenue Expenditure

******

******

Treatment Journal entry

Accumulated profits

Credited in the old partner’s capital

Reserves A/c Dr Profit & Loss A/c(Profit) Dr.

To Old Partner’s Capital A/c [individually]

Accumulated losses

Debited in the old partner’s capital Old Partner’s Capital A/c Dr. [individually]

To Profit and Loss A/c [Loss]

Balance Sheet

Old

Partners In Old

Ratio

Partner

Mohan and Sohan

Ratio 2:1

Meena is admitted as

new Partner

For 1/4 th share

Old Balance Sheet

General Reserve ̀ 30,000

P & L Account (Dr. Balance) ̀ 6,000

Reserves A/c Dr 30,000

To Mohan’s Capital A/c 20,000

To Sohan’s Capital A/c 10,000

Mohan’s Capital A/c 4,000

Sohan’s Capital A/c 2 ,000

To Profit and Loss A/c 6,000

Accumulated Wisdom

Loss or Lost? Economic Consequences of Internal Capital ... · Lenient LCF provisions allow a member firm to use past accumulated losses to shield future profits from taxation and

Legal Counsel Sponsor, Manager & Registrar · incorporated and operating under Cypriot law with LEI 485100BNI0SXTXYK9465. PRINCIPAL ACTIVITIES ... Accumulated losses (14,884) (14,608)

Income Tax Losses Toolkit - assets.publishing.service.gov.uk · 10 If a partnership profit or loss allocated on a commercial basis produces a mixture of notional profits and losses

Cs found. ACCOUNTS TEST PAPER FOUNDATION ALL A… · 23. The profit and losses for the last few years are as follows 2007-08 loss Rs 10,000 2008-09 losses Rs 2500,2009-10 profit Rs

Chuan-Ju Wang Tian-Shyr Daiy January 2, 2018fmaconferences.org/SanDiego/Papers/FMA2018Chuan-Ju.pdf · CatEPut cannot be exercised until the accumulated losses contributed by CEs exceed

CALL REPORT FORM 5300 INSTRUCTIONS · 38. Miscellaneous Equity (Account 996) 17 39. Other Comprehensive Income (Account 945B) 17 40. Accumulated Unrealized Net Gains (Losses) on Cash

DIGI.COM BERHADpayments. Accordingly, there's no impact to the accumulated losses of the Group as at 1 January 2019. Further details of significant effects arising from adoption of

Debt investor presentation Q2 2020...Total operating expenses -1,088 -1,180 -8% -1,248 -13% Profit before loan losses 1,004 961 4% 753 33% Net loan losses -698 -61 -154 Operating profit

8.0 DISTRIBUTIONS/ACCUMULATED ADJUSTMENTS ACCOUNT … · Table of Contents 8.0 DISTRIBUTIONS/ACCUMULATED ADJUSTMENTS ACCOUNT (AAA) 8.1 The Accumulated Adjustments Account ... and

 · Mr. Ahmed Mosaad Behery Board member & Financial director . Balance as of Jan 1, 2008 Reserves Retained losses Net profit Jan/june 2007 Balance as of June 2007 Net profit July

Financial results, Q1 2012 · 2015. 1. 28. · Highlights of Q1 2012 Profit of DKK 167 million before losses and writedowns Profit of DKK 82 million after losses and writedowns Non-life

Establishing company level fishing revenue and profit ......RESEARCH ARTICLE Establishing company level fishing revenue and profit losses from fisheries: A bottom-up approach Tim Cashion

Internal Reconstruction - ICAI Knowledge Gateway · Internal Reconstruction ... When the company is having substantial accumulated losses it ... Pass journal entries for all the above

SOLUTIONS...Machinery Replacement Fund is in the nature of Accumulated Depreciation and not the Accumulated Profit and hence should not be distributed among the partners. 1 mark 3

Generating Results - Hepburn Wind · 2019. 8. 30. · Operations10 Expenses, debt management 12 and accumulated losses Dividend 16 Securing our future 17 Our stakeholders Engaging

Morgan Stanley European Financials Jan Erik Back, CFO ... · 2006. 2007. 2008. 2009. 2010. 2011. 2012. 2013. Profit before losses, FY. Operating profit, FY. Profit generation throughout

Consolidated FS 2015.pdfin the income and expenditure account. property and equipment These are stated at cost less accumulated depreciation and impairment losses, if any. Depreciation

CER‐FSR Symposium Future of Utilities: International and ... · RES Total Share of RE 4. ... •Accumulated losses at the end of September 2015. Rs. 532.11 billion •Outstanding

ILETS Essays accumulated

Sound Thinking - Verus · “digging out” from sharp losses accumulated in the fourth quarter of 2018, making market upside in 2019 appear more robust than it was, and allaying

 · demand notices were received thereafter for the payment. Over the last few years, the Company has been incurring losses and as at December 31, 2017 the accumulated losses have

MalaysiaStock.Biz...2014/05/21  · profit of RM948,000 compared with accumulated losses in prior years. This achievement derived from good financial management provides the foundation

Accumulated PA Works ! Accumulated PA Works !. ACCUMULATE CONTINUOUS Accumulated P.A.Works !

Вебинар PIL-подход (Profit, Interruptions, Losses)

Solutions to Study Questions, Problems, and Cases · Web viewunrealized gains or losses are reported in the accumulated other comprehensive income section of stockholders’ equity

INDIA INTERNATIONAL BANK (MALAYSIA) BERHAD Statement/2018... · accumulated losses (10,837) (10,389) ──────── ──────── total equity of shareholders

mastermindsindia.commastermindsindia.com/newfiles/ADVANCED CONCEPTS RELATING...Profit and Losses in the ratio of 3.1 and Q and R are partners of R & Co., sharing profits and losses

2018 FINANCIAL STATEMENTS · Statement of Remeasurement Gains and Losses For the year ended March 31, 2018, with comparative figures for 2017 Statement 5 2018 $ 2017 $ Accumulated

Allen Parish Library...Books, net of $ 1,010,013 accumulated depreciation Furniture and fixtures, net of $49,362 accumulated depreciation Equipment net of $213,983 accumulated depreciation

Accumulated Profits

UNIFLEX CABLES LTD. · Accumulated Losses net of Reserves 461.72 Total 461.72 MEANS OF FINANCE : Promoters Contribution (Issuance of new equity shares by AIL) 86.26 Internal Accruals

Annexure C - accc.gov.au · Net profit after tax (normalised and before losses from non-recurring items) down 3.8% to $515.6 million Reported net profit after tax down 17.1% to $450.4

YOUNG & EFFICIENT AIRCRAFT TYPE PEOPLE BUSINESS MODELPart... · 2018-05-02 · Annual Report 2017 87 Share capital Warrant reserve Currency translation reserve Accumulated losses

THE RAISING RIVALS’ COST FORECLOSURE PARADIGM, … · short-term profit-sacrifice or actual losses by the predator. These losses then might be recovered by supracompetitive prices