DK Goel Solutions Class 12 Accountancy Chapter 9 Company Accounts Redemption of Debentures

Short Answer Questions Question 1.        Shubh Limited has the following balance appearing in its Balance Sheet:                     …

DK Goel Solutions Class 12 Accountancy Chapter 8 Company Accounts Issue of Debentures

Short Answer Questions Question 1.      Explain briefly issue of debentures at par, at discount and at premium. Taking imaginary examples pass necessary journal entries in all the cases. Solution 1        …

DK Goel Solutions Class 12 Accountancy Chapter 7 Company Accounts Issue of Share

Short Answer Questions Question 1.      Show the Share Capital in Company’s balance sheet with imaginary figures. Solution  1     Question 2.      At least how much portion of the nominal amount of a share…

DK Goel Solutions Class 12 Accountancy Chapter 6 Dissolution of a Partnership Firm

Short Answer Questions Question 1.       Write the circumstances under which a firm is dissolved. Solution  1          Below are the circumstances under which a firm is dissolved:- 1.) When a partner has…

DK Goel Solutions Class 12 Accountancy Chapter 5 Retirement or Death of a Partner

 Short Answer Questions Question 1.      Why a retiring or deceased partner is entitled to a share of goodwill of the firm? Solution  1.         Goodwill earned by the firm is the result of the efforts of all the…

DK Goel Solutions Class 12 Accountancy Chapter 4 Admission of a Partner

 Short Answer Questions Question 1.      Mention the various matters that need adjustments at the time of admission of a partner. Solution 1           Below are the matters that need adjustments…

DK Goel Solutions Class 12 Accountancy Chapter 3 Change in Profit Sharing Ratio Among the Existing Partners

Short Answer Questions Question 1. Mention the occasions on which reconstitution of partnership firm can take place. Solution  1. A firm is reconstituted on the occasions of :- 1.) Change in the profit sharing ratio among the existing partners. 2.) Admission of…

DK Goel Solutions Class 12 Accountancy Chapter 2 Accounting for Partnership Firms Fundamentals

Short Answer Questions Question 1.  Mention any four provisions of the partnership Act, in the absence of Partnership Deed. Solution 1. 1.) Sharing of Profit/Losses:- Profit/Losses are shared equally by the partners. 2.) Interest on Capital:- Interest on capital…

DK Goel Solutions Class 12 Accountancy Chapter 1 Financial Statements of Not for Profit Organisations

Short Answer Questions Question 1.  Give three essential features of Receipts and Payments Account. Solution  1.   Features of Receipts and Payments Account:   1.) Capital and Revenue: It records all receipts and payments whether they are of…

DK Goel Solutions Class 11 Accountancy Chapter 27 Accounting Software Package Tally

Question 1. What are the salient features in tally? Solution 1: Below are the salient feature in tally:- Inventory management is possible in Tally. Once the available units are entered in it, update stock summary after each transaction can be obtained. As Payroll feature…

DK Goel Solutions Class 11 Accountancy Chapter 26 Computerised Accounting System

Short Answer Questions Question 1. Define a computerised accounting system. Distinguish between a manual and computerised accounting system. Solution  1: A computerised accounting system is that accounting information system that helps in processing the financial…

DK Goel Solutions Class 11 Accountancy Chapter 25 Introduction of Accounting Information System

Short Answer Questions Question 1. Write a detailed note on Transaction Processing System (TPS). Solution  1: They are the computerised systems that perform and record the daily routine transactions which are necessary to conduct the business. TPS serve the organisation…

DK Goel Solutions Class 11 Accountancy Chapter 24 Introduction to Computer

Short Answer Questions Question 1. What is a computer? What are its important features? Solution  1: A computer is an automatic electronic machine for performing calculations. But it cannot be defined merely a calculating machine because it is capable of answering the…

DK Goel Solutions Class 11 Accountancy Chapter 23 Accounts from Incomplete Records

  Short Answer Questions Question 1. Write any three characteristics of Single Entry System. Solution  1: Below are the characteristics of Single Entry System:- 1.) Maintenance of Personal Accounts only:- Usually under this system, only personal accounts are…

DK Goel Solutions Class 11 Accountancy Chapter 22 Financial Statements With Adjustments

Short Answer Questions Question 1. What is the necessity of doing adjustments? Give four adjustment entries with their explanations. Solution  1: Necessity of doing adjustments: To ascertain the true net Profit or loss of the business. To ascertain the true…