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    6K views661 pages

    TS Grewal Class 12 Vol 1 ORIGINAL BOOK PDF Compressed

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    akshit pal

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    © All Rights Reserved
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    2020 EDITION Textbook for CBSE Class XII T.S. GREWAL’S Double Entry BOOK KEEPING Accounting for Not-for-Profit Organisations and Partnership Firms VOLUME I Includes = Chapter-wise Flow Charts inQR Codes * Evaluation Questions Scanner SCE sultan chand # 2020 Textbook for CBSE Class XII EDITION VOLUME! T.S. GREWAL’S Double Entry BOOK KEEPING Accounting for Not-for-Profit Organisations and Partnership Firms T.S. GREWAL Rirmer Director, Board of Stuctex, The Institute of Chartered Accountanta of dnsic, Ce-Author of Advanced Aecounta and Coat Azcounts and Editor of Mancegeraent Revised by H.S. GREWAL Chartered Accountant 5. GREWAL , BD, CAL (Ita Chartered Atcountant and Pracactemic The Inatitute of Chartered Aecountanta af Pudi Former Member, Board of Studies, R.K. KHOSLA uty Maiber, NERO of the Tnatitate of Company Secretaries af Ince an ith Memblor, MERE uf the Zaatitute'uf Chartered ewok tama af Inalin SCS. suitan chand Educational Publishers SYLLABUS Accountancy (Co ‘Class XT FO Marlex a2 20 Markos Units Part A Unit 1. Financial State jens pf Nog for Profit’ On Unit ny for Parizersirip 90 Unit 8. Ascountit far a5 | oo [= Total 10 | ow Finan Unit 4. » Unit 8. 8 20 a) 4 Mar Written st 12 Marka (One Hour} (i) Batranaar andreas frye conc poral docstinns anv tn trated ios receptor cep (ii) Tr (bu be prepared areount- nel serio Piraem ir dix member ani! nedrivte! da sudveripions Sear otenioe ‘asets old mile ‘Vivrn Voos 4 Marks COUNTING YOR NUTPOI-PROFTT ORCAMIMATIONS 40 Marka 150 Perfods HUTNERSHIP FIRMS AND COMPANTES i pe After going through this Unit, the wiudents welll: he able tex = ptato the mean Not-for-profit 9 feott w joit litre Account: fexturne pivncrationsfincomeund expenditure account | making entity sind Lealaiseu alive Grogn the et reeeite ond | + etnte the meuning uf seceipta and jiayment na i i | mcrounit, and ttbdurstanding fu fina tuiren + divelop the ing and skill of idemonts in aijuesticonwhinild nog pice | Preparing reccipte am puytinnis nceount eof income nil expedite sibiderstanl ts (rirtiares velop the banding wid skill of corte anil expe mpm sith the help of given co and male of al, si oes cideatal artictties tx of © Parinorship: features, Partunrabip Dowd # Provisions of the Indian Partnership Act, 1982 {in the absence of partnership deed « Fixed we fluctxeting capital sccmunta Preparation of Profit and Lass Appeoptiation ivision af profit nemmy partners, 0 of profits. ita (melathixe ta intereut on putea © Past adjust capital, interest om drawing, salury and profit stuurinye ratio}. ffecting and profit, sper eth af vnuntion prof and expitalination, Notes: 1, Interest an pariner's toa charge aginst profita 2 Goodivill te be adjusted through partners? capital feurrent mmceants or’ by, rviairat and turiting off goorhell (AS 26 Accaunting-for Partnership fire— Recenntitution and Diseolutio, * Change in the Profit Sharing Ratio among the causing: purtres—sacrificing ratio, gaining ritio, acyanting for reealuation if amedta and t of linhifitios and’ trwatmenit of paetven and ecurs ulated profita. Preparation of revaluation accoust aad balanar ahoet. © Admiaxion ofa partner—effrct of adminsion of a purtner on change in the profit sharing rato, treatment of gonderll (as por AS 28), treatment for swvaluntion of asaetx and reaspesement of liabilities, treutiment of reeves and accurmulatos pro ‘capital ccourta anit proquration of Balance whet. * Retirement and death of w partner: ollect if retiemientideath of n partoor or change in bore wha sodrill tan pow AS for revaluation of wasets ‘ef reanosnamont of lnbibitiog, adjustment of accuinubited profits nnd reserved, adjuutinent of capital accounts and erepararicn af babi beet, Preparation of loaty-aceoupt uf the eatin partner. * Caleulations of seceded partners shun a profit cil-the dace i nati Preparation nf econoed partire’s capital scent and hin sexrtcitur’s nent + Dissolution ofa partnershiy firm: joemine of owslutina af partnership’ iid prtniceship firm, 2ype af dieanhtion nf a firm. Setthement of acini -pmeyanr tion of evabicntian ecru, to be terated an a i Chto through this Unis, the students state the meaning of partnership, partnership firm and partnership deed. desribe the chuncteristinfonturesof partiwnsbip aru the eanteta of partnership dena disres the snifieance dl pervision of Particeabip Act in the sbeence of partnership deed. diffreentinte between fixed and Quctunting ‘capital, outline the process sina develop: the usderstunding and ekill of preparation of Profit and Lees Appropriation Account, develop the understanding and skill of proparation of Profit und Loos Appropriation Account involving jmarantee of profits dovelopthe: and will of munkiny past adjustracnte sseate the meaning, nnturw aind fuctir affecting poet lop thy understaniting: and skill of valuation of mosdwill uning different methods, tate tho momning of sacrificing ratio. cuining ratio and the eharpe in profit sharinyt ratio Iveta doveloy the understanding of accoumtsiy treatment of revaluation of auscte und Foumecament of Yiabilitios and treatsawnt of seoceven ahd accudmulated peufita by prepiarsng revaluation account und balan shes explais tha effect of chine In profit wbitrine ratio on admission of » new partner: dovelop the undoretuniing and. xkill We treatment of goodwill ax per ASG, trustmment of revntnation of nenete:nnd remobasnent of Liabilities, tromtment bf reaven sid accumulated. profite adjnetinent of enpital accatnta.and perparation of halaaey aliect of the ew firm. explainr the effect of setirementideath of a purianeon change in prot sharing ra diyolop the understanding of accounting thiitsnint wf goodwill, ewaluition lf sknetx Sind remsshesmett of Uabitties and adjustaset of rifite an rexereya im fetitemeatideath af a: jeaetner aad corpatil deviclip the will af enienlatliin af décvinneat sshare ti the tine wf hie death anml ropare duces partner cxncuter's sdceaint: and, other re! of partners phecerea! ist inaatveney of pe Notes: (The malived atven at the Frvcase, the re a partner, regarding the nig 8: Acrannt Accounting for Stu * Share and share © Accounting for ttlatmeht of ‘ont Public subserty athecriptien aid Essie at pat wid anal arrears (exer for comsiddaration 0 © Comenpt of Privat Stuck Option Man © Accounting re-iastie of uhares © Diselhwtire of ahs Sheet of a compan treat Acvoussting fire Del * Debentures” Ihe Ata premium ar debentunes for ean Tasue af debenture Usbenties aso intecest an dabon ss 08 inet HE de Note: Discoust or fo be written off Tater fro (07 i eet) Prof caned Lee * Redeenption of eum, daw flat * Creation af Dobe ‘Suates Related nection kell apply, and ited accents: eapital acrounts of parinern sand canhvmank alc excluding Fiveemen! distribution, sale tom company nad insolvency of partneets)) Notes: ach amet raat be (The realised value of ininen et the time of sian (ii) Ince. the realinution expenseasare borne by ‘@ partner, clear indication shocild. be jiven regarding the paryinent thereet. |= inci the | of the romaining partners so shoot of the fiem after r a partner, J+ unilerstand partnership a ex be isu ved + dovolop the understanding: of preparation of realingtinn acon and other related nce Unnle 8: Acominting for Accounting for Share Capital # Share nnd share capital: nature and types «= Accounting fr share expital: i ilotment of equity and p ye shares, Publie subscription of ahuroe—over subecriptiqn anc under subacription of shares; enue st par nnd ut pr calls i aac ‘and arrears (exeluding interest), ines of shares for consider * Concept of Private Fiscem tock Optiaa Plan (ESOM), + Acaninting treatment of forfoiture nnd ‘of ahunres. re of alan » and jon other than eal. and Employee enpital in the olance Arca + Debenturee: I of dekenturon at par, Janus of Tonuo of slcbenitisrey with term Usb fai cuillatien), aecurite—concept reli eff escort? la wn Noto: Diacowtt ar loss om mice nf defentines to be sotitéen Gif tn thy Year debentuhes are ‘ollotter from Serurisies Prominin Reactie if It existe) tement af Profit and Lo iS 18 © Hodemption of dehesitures—Methots: Laump © Creatinn of Diebientin Notes Nellted weiss uf the Ciimpanits set. 201.8 apply, itive Mei | After going through this Unit, the students will be able tot re anid sbarv Jing of private placement ‘of shuges und Eiaplayes Stock Option Flin explain the arcounting treatmeat of share capital trnnanctions rogerding iene of shares + dovelop the undees of accounting trewtinent of forfeitine and reinmue of forfeited shares, doseribe the presentation of share capital in the balance sheet of the company a Scestuht IT, Part af the Compr + explain the accountin of different eategories of transactions related to Laawe if debentures = develop linge nid okill of wrt off diac ifeohenitar s understand the concept of collateral aeesurity ail ita pre pp tho till obertuunes snd ata aevcratiny ore menring of rdempaton if ich + ieyelip, shor wndenstandinis of cow emir uf teanaactions eluted ronan af lcbetres fsa axa tare af era (Creation of Debeatare Heilrmption Rieorye SUQESTED QUESTION PAPER DESION ‘Accoumiancy {Code Me. O55) Claas Theory: AO Marios Duration: 9 ayetQuestions Objective] Short | Short | Loag | Lone MICQ) Answer | Answer | Andwer| Answer t a T a 2Marks/ 4 Maries Marks! Murs | Mates i Exhibit merary | Tearnad materint fe 2, Da 8 1 1 1 Is ander Leas by transl tian by applying aceatrod enol fuiles ia 4] Analysing and Evaluating: ‘exaisitve and by ying motives Make inferences fibenen ind defend epliicas i judamenta. of ica (Creating: Compily information gether in w different way by. XG 2m | 60 iaa) Sin = 38 ef eked marke 6 markeand 4 parks. AH yuextiois smcarka auill haw con amernial chavier ‘Note: Tho: Boned tas introcticed ¢sarning Quitomas in the syihibus to inctiiake students hy contami ‘exgiea al ovals of earning, However those are aniy inicative These de natn cry way. reatict the seone of quested ackect ft the examinations. The examination queeiions. wil be atcetiy ‘hamid i the presenbed auiention paper design and syiiabus: inw 75 Greate CONTENTS Financial Seements of Not-for-eofit Organizations La-bo counting fot Partnership’ Firmt—Fundamentals Goodwill: Nature and. Valuation 51-307 Chatige in Profit-Sharing: Ratio Among the Existing, Partners sits Admission ‘of 5 Partner S-S.020 Retirement of a Parinor 61-674 Death of w Partner Diswiliition! of a Parmership Firm Scanner S158 > PART A; Accounting Theory Sa-Su > PART B: Plactical Problem Other Books for Accountancy Ciass XIl a eet SES T.S: Grewal Gouble Entry Book Keeping TS, ‘icwatn er manne omar a’ Aly ol Fi CHAPTER | Financial Statements of Not-for-Profit Organisations LEARNING OBJECTIVES The study of this Chapter would enable you to understand: J) daningand Concept of hae for-Mreit Organisation a Jd Character WV Features of NotforPro fit Crginisazion: 12 SE Difference betrero Nob loe-Profit Organsation and Prost Eaering QNTRONSaTION 12

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