Work, Life and Leisure Class 10 Notes History Chapter 6

Work, Life and Leisure Class 10 Notes Social Science History Chapter 6 SST Pdf free download is part of Class 10 Social Science Notes for Quick Revision. Here we have given Work, Life and Leisure Class 10 History Chapter 6 Notes. According to new CBSE Exam Pattern, MCQ Questions For Class 10 Social Science with Answers Carries 20 Marks. https://meritbatch.com/cbse-class-10-social-science-history-work-life-and-leisure-notes/

Formulae Handbook for Class 10 Maths and Science

Board CBSE
Textbook NCERT
Class Class 10
Subject Social Science Notes
Chapter History Chapter 6
Chapter Name Work, Life and Leisure
Category CBSE Revision Notes

Work, Life and Leisure Class 10 Notes Social Science History Chapter 6

Work Life And Leisure Class 10 Notes
Role of industrialization in shaping of the modem cities in England:

The early industrial cities of Britain such as Leeds and Manchester attracted large numbers of migrants to the textile mills set up in the eighteenth century.

  • During the 18th and 19th centuries, London became a center for international trade and commerce and attracted a large number of traders and merchants from all over the world.
  • London was a powerful magnet for migrant population even when it did not have large factories.
  • Apart from the dockyard, five major types of industries employed large number of workers:
    (i) clothing and footwear,
    (ii) wood and furniture,
    (iii) metals and engineering,
    (iv) printing and stationery and
    (v) precision products such as surgical instruments, watches and objects of precious metal.

Work Life Leisure Class 10
Impact of industrialization and urbanization on the family life in Britain:

The family life transformed in terms of function and shape. The family as an institution had broken down as the ties between members of households loosened, and among the working class the institution of marriage tended to break down.

Women of the upper and middle classes in Britain faced increasingly higher levels of isolation, although their lives were made easier by domestic maids who cooked, cleaned and cared for young children on low wages. Women lost their industrial jobs and were forced to withdraw into their homes. The public space became increasingly a male preserve.

Class 10 History Chapter 6 Notes
Steps taken by the British State to provide housing for working classes between 1919-1939:

Between the two World Wars, the responsibility for housing the working classes was accepted by the British State and a million houses, most of them single family cottages, were built by local authorities. Meanwhile, the city had extended beyond the range where people could walk to work, and the development of suburbs made new forms of mass transport, absolutely necessary, which led ultimately to the setting up of railways.

Work Life Leisure
Steps taken to clean up London:

  1. Demands were made for new ‘lungs’; efforts were made to bridge the difference between the city and the countryside through a Green Belt around London. Attempts were made to decongest localities, green the open spaces, reduce pollution.
  2. Large blocks of apartments were built and rent control was introduced in Britain during the First World War to ease the impact of a severe housing shortage.
  3. Architect and planner Ebenezer Howard developed the principles of the ‘Garden City’, a pleasant space full of plants and trees.
  4. Raymond Unwin and Barry Parker developed the Garden suburb of New Earswick based on Howards idea.

Class 10 History Chapter 6 Notes Pdf
Benefits of London Tube railway:

The London underground railway partially solved the housing crisis by carrying large masses of people to and from the city. The population in the city became more dispersed. Better-planned suburbs and a good railway network enabled large numbers to live outside Central London and travel to work.

Work Life And Leisure Class 10 Pdf
Air pollution—nuisance for the Londoners:

The congestion in the 19th century industrial city of London led a yearning for clean country air. Because of widespread use of coal in homes and industries, air pollution led to bad tempers, smoke-related illnesses and dirty clothes. Demands were made for new ‘lungs’ for the city.

  1. Factory owners and steam engine owners were told invest on technologies that would improve their machinery. Despite hurdles and opposition from the industries, the Smoke Abatement Acts of 1847 and 1853 were passed.
  2. Attempts were made to decongest localities, green the open spaces, reduce pollution and landscape the city. Large blocks of apartments were built and rent control was introduced. Architect and planner Ebenezer Howard developed the ‘Garden City’.

Sources of entertainment for the common people of London:

  • ‘London Season’ was an annual feature for the wealthy Britishers. Several cultural events such as the opera, the theater and classical music performance were organized for an elite group of 300-400 families in the late 18th century.
  • The working class met in pubs to have drinks, exchange news or to discuss politics.
  • In the 19th century some libraries, art galleries and museums were established to provide people with a sense of history.
  • Music halls were popular among the lower classes. By the early 20th century, cinema became the great mass entertainment for mixed audiences.
  • Holidaying by the sea became popular among the industrial workers.

Transformation of Bombay into an industrial city:
At first, Bombay was the major outlet for cotton textiles from Gujarat. Later, in the 19th century, the city functioned as a port through which large quantities of raw materials, such as cotton and opium, would pass. Gradually, it also became an important administrative centre in Western India, and then, by the end of the 19th century, a major industrial centre. Bombay became the capital of the Bombay Presidency in 1819 after the Maratha defeat in the Anglo-Maratha war. With the growth of trade in cotton and opium, large communities of traders and bankers as well as artisans and shopkeepers came to settle in Bombay. The establishment of textile mills led to a fresh surge in migration. Bombay had its first cotton textile mill established in 1854. By 1921, there were 85 cotton mills with about 1,46,000 workers.

‘Chawls of Bombay’:
The working people who migrated from various parts lived in thickly populated Chawls. Chawls are multi-storeyed structures built in the native parts of the town. Each Chawl was divided into smaller one room tenements which had no private toilets. The homes being small, streets and neighborhoods were used for a variety of activities such as working, washing, sleeping and various types of leisure activities. The magicians, monkey players and acrobats used to regularly perform their act in an open space in the middle of four Chawls. Liquor shops and akharas came up in any empty spot.

Rent Act (Bombay):
The Rent Act was passed in Mumbai (Bombay) in the year 1918.
To solve the problem of housing, the Rent Act was passed with the aim of keeping the rents reasonable. It had the opposite effect of producing a severe housing crisis, since landlords withdrew houses from the market.

Bombay—a city of dreams:
Despite massive overcrowding and difficult living conditions, Bombay (Mumbai) appears to many as mayanagari—a city of dreams.

  • Many films of Bombay deal with the arrival in the city of new migrants and their pressures of daily life. Even some songs from films like CID (1956) and Guest House (1959) speak of the contradictory aspects of the city. By 1925, Bombay had become India’s film capital, producing films for a national audience.
  • Most of the people in the film industry were themselves migrants who came from cities like Lahore, Calcutta, Madras. Bombay films have contributed greatly to produce an image of the city as a blend of dreams and reality of slums and star bungalows.

Land reclamation process in Bombay:

  1. Seven islands of Bombay were joined into one landmass over a period of time. The need for additional commercial place in mid-19th century led to the formulation of several plans for the reclamation of more land from sea. Both private companies and government were involved.
  2. In 1864, the Black Bay Reclamation Company won the right to reclaim the western foreshore from the tip of Malabar Hills to the end of Colaba.
  3. By 1870, the city had expanded 22 square km.
  4. A successful reclamation project was undertaken by the Bombay Port Trust, which built a dry dock between 1914 and 1918 and used the excavated earth to create the 22 acre Ballad Estate. Subsequently the famous Marine Drive of Bombay was developed.

Causes of air-pollution in Calcutta:
City development everywhere occurred at the expense of ecology and environment. Kolkata (Calcutta) was also not an exception.

  1. High levels of pollution were a consequence of the huge population that depended on dung and wood as fuel in their daily life.
  2. The main polluters were the industries and establishments that used steam engines run on coal. The city was built on marshy land the resulting fog combined with smoke generated thick block fog.
  3. The railway line introduced in 1855 brought a dangerous new pollutant into the picture—coal from Raniganj. The high content of ash in Indian coal was a problem.
  4. In 1920, the rice mills of Tolly gunge began to bum rice husk instead of coal leading to air filled with black soot falling like drizzling rain.

More Resources for CBSE Class 10

We hope the given Work, Life and Leisure Class 10 Notes Social Science History Chapter 6 SST Pdf free download will help you. If you have any query regarding Work, Life and Leisure Class 10 History Chapter 6 Notes, drop a comment below and we will get back to you at the earliest.

NCERT Solutions For Class 10 Maths Chapter 7 Coordinate Geometry Ex 7.4

NCERT Solutions For Class 10 Maths Chapter 7 Coordinate Geometry Ex 7.4

Get Free NCERT Solutions for Class 10 Maths Chapter 7 Ex 7.4 Coordinate Geometry Class 10 Maths NCERT Solutions are extremely helpful while doing homework. Exercise 7.4 Class 10 Maths NCERT Solutions were prepared by Experienced LearnCBSE.in Teachers. Detailed answers of all the questions in Chapter 7 Maths Class 10 Coordinate Geometry Exercise 7.4 Provided in NCERT Textbook

Also Read:

POWERGRID Pivot Point Calculator

Topics and Sub Topics in Class 10 Maths Chapter 7 Coordinate Geometry:

Section Name Topic Name
7 Coordinate Geometry
7.1 Introduction
7.2 Distance Formula
7.3 Section Formula
7.4 Area of a Triangle
7.5 Summary

You can also download the free PDF of Chapter 7 Ex 7.4 Coordinate Geometry NCERT Solutions or save the solution images and take the print out to keep it handy for your exam preparation.

Board CBSE
Textbook NCERT
Class Class 10
Subject Maths
Chapter Chapter 7
Chapter Name Coordinate Geometry
Exercise Ex 7.4
Number of Questions Solved 8
Category NCERT Solutions

NCERT Solutions For Class 10 Maths Chapter 7 Coordinate Geometry Ex 7.4

NCERT Solutions for Class 10 Maths Chapter 7 Coordinate Geometry Ex 7.4 are part of NCERT Solutions for Class 10 Maths. Here we have given NCERT Solutions for Class 10 Maths Chapter 7 Coordinate Geometry Ex 7.4.

Ex 7.4 Class 10 Maths Question 1.
Determine the ratio, in which the line 2x + y – 4 = 0 divides the line segment joining the points A(2, -2) and B(3, 7).
Solution:
Coordinate Geometry Class 10 Maths NCERT Solutions Ch 7 Ex 7.4 PDF Download Q1

Ex 7.4 Class 10 Maths Question 2.
Find a relation between x and y, if the points (x, y), (1, 2) and (7, 0) are collinear.
Solution:
Coordinate Geometry Class 10 Maths NCERT Solutions Ch 7 Ex 7.4 Free PDF Download Q2

 

Ex 7.4 Class 10 Maths Question 3.
Find the centre of a circle passing through the points (6, -6), (3, -7) and (3, 3).
Solution:
Ex 7.4 Class 10 Maths NCERT Solutions Ch 7 Coordinate Geometry PDF Download Q3

Download NCERT Solutions For Class 10 Maths Chapter 7 Coordinate Geometry PDF

Ex 7.4 Class 10 Maths Question 4.
The two opposite vertices of a square are (-1, 2) and (3, 2). Find the coordinates of the other two vertices.
Solution:
Ex 7.4 Class 10 Maths NCERT Solutions Ch 7 Coordinate Geometry PDF Q4
Ex 7.4 Class 10 Maths NCERT Solutions Ch 7 Coordinate Geometry Q4.1

Ex 7.4 Class 10 Maths Question 5.
The class X students school in krishnagar have been allotted a rectangular plot of land for their gardening activity. Saplings of Gulmohar are planted on the boundary at a distance of 1 m from each other. There is triangular grassy lawn in the plot as shown in the figure. The students are to sow seeds of flowering plants on the remaining area of the plot.
(i) Taking A as origin, find the coordinates of the vertices of the triangle.
(ii) What will be the coordinates of the vertices of ∆PQR, if C is the origin?
Also, calculate the areas of the triangles in these cases. What do you observe?
NCERT Solutions For Class 10 Maths Chapter 7 Coordinate Geometry Ex 7.4 Q5
Solution:
Ch 7 maths Class 10 NCERT Solutions Coordinate Ex 7.4 PDF Download Q5

Ex 7.4 Class 10 Maths Question 6.
The vertices of a VABC are A(4, 6), B(1, 5) and C(7, 2). A line is drawn to intersect sides AB and AC at D and E respectively. such that \(\frac { AD }{ AB } =\frac { AE }{ AC } =\frac { 1 }{ 4 } \). calculate the area of the ∆ADe and compare it with the area of ∆ABC.
Solution:
Ch 7 maths Class 10 NCERT Solutions Coordinate Ex 7.4 Free PDF Download Q6
Ch 7 maths Class 10 NCERT Solutions Coordinate Ex 7.4 Free PDF Q6.1
Ch 7 maths Class 10 NCERT Solutions Coordinate Ex 7.4 Q6.2

Ex 7.4 Class 10 Maths Question 7.
Let A(4, 2), B(6,5) and C(1, 4) be the vertices of ∆ABC.
(i) The median from A meters BC at D. Find the coordinates of the point D.
(ii) Find the coordinates of the point P on the AD, such that AP: PD = 2: 1.
(iii) Find the coordinates of points Q and R on medians BE and CF respectively, such that BQ: QE = 2: 1 and CR: RF = 2: 1.
(iv) What do you observe?
[Note: The points which are common to all the three medians is called centroid and this point divides each median in the ratio 2: 1]
(v) If A(x1, y1), B(x2, y2) and C(x3, y3) are the vertices of ∆ABC, find the coordinates of the centroid of the triangles.
Solution:
Coordinate Geometry Class 10 Maths NCERT Solutions Ch 7 Ex 7.4 Q7
Coordinate Geometry Class 10 Maths NCERT Solutions Ch 7 Ex 7.4 PDF Q7.1
Coordinate Geometry Class 10 Maths NCERT Solutions Ch 7 Ex 7.4 Fee PDF Q7.2

Ex 7.4 Class 10 Maths Question 8.
ABCD is a rectangle formed by the points A(-1, -1), B(-1, 4), C(5, 4) and D(5, -1), P, Q, R and S are the mid-points of Ab, BC, CD and DA respectively. Is the quadrilateral PQRS a square? a rectangle? or a rhombus? Justify your answer.
Solution:
Ex 7.4 Class 10 Maths NCERT Solutions Ch 7 Coordinate Geometry Free PDF Download Q8
Ex 7.4 Class 10 Maths NCERT Solutions Ch 7 Coordinate Geometry Q8.1

NCERT Solutions for Class 10 Maths Chapter 7 Coordinate Geometry (Hindi Medium) Ex 7.4

NCERT Solutions for Class 10 Maths Chapter 7 Exercise 7.4 (Optional) Coordinate Geometry
10 Maths Chapter 7 Ex. 7.4 optional in PDF form
10 Maths Chapter 7 Ex. 7.4 solutions in PDF
10 Maths Chapter 7 Exercise 7.4 in English medium
10 Maths Exercise 7.4 Solutions in Hindi
10 Maths Exercise 7.4 Solutions in English for 2018-19
10 Maths Exercise 7.4 Solutions in Hindi medium
10 Maths Chapter 7 Exercise 7.4 Solutions in Hindi PDF
10 Maths Chapter 7 Exercise 7.4 Solutions for CBSE and UP Board
10 Maths Chapter 7 Exercise 7.4 Solutions updated for 2018-19
10 Maths Chapter 7 Exercise 7.4 Sols Hindi me
10 Maths Chapter 7 Exercise 7.4 Solutions free in Hindi

We hope the NCERT Solutions for Class 10 Maths Chapter 7 Coordinate Geometry Ex 7.4, help you. If you have any query regarding NCERT Solutions for Class 10 Maths Chapter 7 Coordinate Geometry Exercise 7.4, drop a comment below and we will get back to you at the earliest.

 

Analysis of Financial Statements – CBSE Notes for Class 12 Accountancy

Analysis of Financial Statements –  CBSE Notes for Class 12 Accountancy

CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy

Topic 1: Introduction to Financial Statements Analysis
1. Financial Statement Analysis It is the systematic numerical representation of the relationship of one financial fact with the other to measure the profitability, operational efficiency, solvency and the growth potential of the business.
2. Types of Financial Statement Analysis
(i) External analysis
(ii) Internal analysis
(iii) Horizontal analysis
(iv) Vertical analysis
(v) Long-term analysis
(vi) Short-term analysis
3. Process of Financial Statement Analysis
(i) Rearrangement of data
(ii) Comparison
(iii) Analysis
(iv) Interpretation
4. Importance or Objectives of Financial Statement Analysis
(i) Judging the operational efficiency of the business.
(ii) Measuring the profitability.
(iii) Measuring short-term and long-term financial position.
(iv) Indicating the trend of achievements.
(v) Assessing the growth potential of the business.
(vi) Inter-firm comparison
5. Uses or Advantages of Financial Statement Analysis
(i) Security analysis
(ii) Credit analysis
(iii) Debt analysis
(iv) Dividend decision
(v) General business analysis
6. Limitations of Financial Statement Analysis
(i) Financial statement analysis ignore qualitative aspects like quality of management, labour force and public relations.
(ii) Suffering from the limitations of financial statements, which are as follows:
(a) Financial statements are historical in nature.
(b) Financial statements do not show price level changes hence, affect the analysis also.
(c) The results obtained by analysis of financial statements may be misleading due to window dressing.
(d) Financial statements are affected by the personal ability and bias of the analyst.
7. Parties Interested in Financial Statement Analysis and their Areas of Interest
CBSE Notes for Class 12 Accountancy Img 1
Topic 2: Tools of Financial Statements Analysis
Tools of Financial Statements Analysis There are different tools of financial statements
analysis available to the analyst. The following tools are used to measure the operational efficiency and financial soundness of an enterprise.
The most common used techniques of financial analysis are:
1. Comparative financial statements
2. Common size statements
3. Ratio analysis
4. Cash flow statements
1. Comparative Financial Statements Statements used to compare the items of income statement i.e. profit and loss account and position statement i.e. balance sheet for ascertaining the trend of the performance and profitability of an enterprise are known as comparative financial statements.
(i) Comparative income statement It is a statement which shows in percentage term the total of income earned and expenses incurred during two or more accounting periods.
Format of Comparative Income Statement
CBSE Notes for Class 12 Accountancy Img 2
(ii) Comparative balance sheet. It is a statement showing assets and liabilities of the business for two or more accounting periods. It also shows the percentage change in the monetary value of the assets and liabilities.
Format of Comparative Balance Sheet
CBSE Notes for Class 12 Accountancy Img 3
2. Common Size Statement The statement wherein figures reported are converted into percentage to some common base is known as common size statement. Each percentage shows the relation of the individual item to its respective total.
(i) Common-size income statement The statement in which sales figure is assumed to be 100 and all other figures are expressed as a percentage of sales is known as common size income statement.
Format of Common Size Income Statement
CBSE Notes for Class 12 Accountancy Img 4
(ii) Common-size balance sheet In common size balance sheet, the total of assets or liabilities is assumed to be 100 and figures are expressed as a percentage of the total.
Format of Common Size Balance Sheet
CBSE Notes for Class 12 Accountancy Img 5
3. Ratio Analysis The mathematical expression that shows the relationships between various groups of items contained in the financial statements is known as ratio analysis.
4. Cash Flow Statement It shows the inflows and outflows of cash and cash equivalents of an enterprise by classifying cash flows into operating, investing and financing activities during a particular period and analysing the reasons for changes in balance of cash between the two balance sheets dates.

Financial Statements of a Company – CBSE Notes for Class 12 Accountancy

Financial Statements of a Company –  CBSE Notes for Class 12 Accountancy

1. Financial Statements The statements which are prepared to ascertain the profit earned or loss suffered and position of assets and liabilities at a particular date are known as financial statements. These are the final product of accounting process.
A set of financial statements as per Section 2(40) of the Companies Act, 2013 include (0 Balance sheet i.e. position statement
(ii) Statement of profit and loss i.e. income statement
(iii) Notes to accounts
(iv) Cash flow statement
Section 129 of the Companies Act, 2013 requires the company to prepare its financial statements every year in prescribed form i.e. Schedule III of the Companies Act, 2013.
2. Characteristics of Financial Statements
(i) Financial statements are historical documents as they relate to past period.
(ii) Financial statements are prepared in monetary terms.
(iii) Balance sheet reveals the financial position and statement of profit and loss shows the profitability of the business organisation.
3. Nature of Financial Statements
(i) Recorded facts
(ii) Accounting conventions
(iii) Postulates
4. Objectives of Financial Statements
(i) Financial statements provide the information about the earning capacity of the business.
(ii) Financial statements provide the information about the economic resources and obligation of an enterprise.
(iii) Financial statements also provide the information about the cash flows.
(iv) Financial statements supply the information useful for judging the management’s ability to utilise the resources of business effectively.
(v) Financial statements have to report the activities of the business organisation affecting the society, which is important in its social environment.
5. Essentials of Financial Statements
(i) Accurate information
(ii) Understandability
(iii) Comparable
(iv) Verifiable
(v) Relevant
(vi) Timeliness
6. Uses and Importance of Financial Statements
(i) Report on stewardship function
(ii) Basis for fiscal policies
(iii) Basis of granting of credit
(iv) Basis for prospective investors
(v) Guide to the value of the investment already made
(vi) Aids trade associations in helping their members
7. Limitations of Financial Statements
(i) Accounting concepts and conventions involve personal judgement, so these statements are not free from bias.
(ii) Qualitative aspects of financial statements are ignored.
(iii) The present value of assets and liabilities and price-level changes are ignored.
(iv) Financial statements are historical in nature and relate to past period only.
8. Users of Financial Statements
(i) Owners including shareholders and investors
(ii) Debentureholders and financial institutions (bankers)
(iii) Creditors
(iv) Management
(v) Employees
(vi) Government, tax authorities and regulators
9. Balance Sheet
It may be defined as a statement of assets and liabilities of the company, at a particular date. It must exhibit a true and fair view of the financial position at the close of the year. It is prepared and presented in the form prescribed in Schedule III Part I of the Companies Act, 2013, and is broadly divided into two parts, (i) Equity and liabilities (ii) Assets.
Proforma of Balance Sheet (As per Revised Schedule VI)
Financial Statements of a Company - CBSE Notes for Class 12 Accountancy Img 1
10. Statement of Profit and Loss The title of ‘profit and loss account’ is charged to statement of profit and loss. If shows the net result of business operations. Its form is prescribed in Schedule III, Part II of the Companies Act, 2013.
Financial Statements of a Company - CBSE Notes for Class 12 Accountancy Img 2

CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy

Accounting for Share Capital – CBSE Notes for Class 12 Accountancy

Accounting for Share Capital –  CBSE Notes for Class 12 Accountancy

Topic 1: Introduction
1. Company A joint stock company is an artificial person, created by law, having separate entity distinct from its members with a perpetual succession and a common seal.
2. Characteristics or Features of a Company
(i) Artificial person (ii) Voluntary association (iii) Created by law
(iv) Capital divisible into transferable shares (v) Limited liability
(vi) Perpetual succession (vii) Common seal
(viii) Separate legal entity from its members (ix) May sue or be sued
3. Kinds of Companies
(i) Private companies According to Section 2 (68) of the Companies Act, 2013, it is a company with minimum paid-up share capital of ^ 1,00,000 or such higher amount as may be prescribed in the Companies Act, 2013 and which by its Articles of Association
(a) Restricts the right to transfer its shares, if any.
(b) Except in one person company, limits the number of its members excluding its present and past employee members to 200; if the past or present employee acquired the shares while in employment and continue to hold them. If any share is held jointly by two or more persons, they shall be treated as a single member.
(c) Prohibits any invitation to the public to subscribe for any securities of the company.
The minimum number of members required to form a private company is two. The name of a private company ends with the words, ‘Private Limited’.
(ii) Public company As per Section 2 (7) of Companies Act, 2013, public company is a company which
(a) is not a private company.
(b) has minimum capital of Rs 5 lakh or such higher paid-up capital as may be prescribed.
(c) is a private company, which is a subsidiary of a public company. Minimum requirement of a public company is seven persons.
(iii) One person company is a company which has only one person as a member. It is a company incorporated as a private company which has only one member. Rule 3 of the Companies (Incorporation) Rules, 2014 provides that:
(a) Only a natural person being an Indian citizen and resident in India can form one person company or can be nominee for the sole member of one person company.
(b) One person can form only one ‘one person company’ or become nominee of one such company.
(c) It cannot be formed for charitable purpose.
(d) It cannot carry out non-banking financial investment activities including investment in securities of any body corporate.
(e) Its paid-up share capital is not more than Rs 50 lakhs.
(f) Its average annual turnover should not exceed Rs 2 crores.
4. Share According to Section 2 (84) of the Companies Act, 2013, share means a share in the share capital of a company and includes stock. The capital of company is divided into a number of equal units. Each unit is called a share. A company may divide its capital into share of Rs 100, Rs 50, Rs 10, Rs 5 or even Rs 1 each.
5. Types of Shares
(i) Preference shares According to Section 43 (b) of the Companies Act, 2013, preference shares are the shares which carry the following two preferential rights:
(a) Preferential right of dividend to be paid as fixed amount or an amount calculated at a fixed rate, which may either be free of or subject to income tax.
(b) Return of capital on the winding up of the company before that of equity shares. Holders of preference shares are called preference shareholders.
(ii) Equity shares According to Section 43(a) of the Companies Act 2013, equity share is that share which is not a preference share. Equity shares are the most commonly issued class of shares which carry the maximum ‘risks and rewards’ of the business. The risks being losing part or all of the value of shares if the business incurs losses, the rewards being payment of higher dividends and appreciation in the market value.
6. Share Capital It is that part of the capital of a company, which is represented by the total nominal value of shares, which it has issued.
7. Kinds of Share Capital
(i) Authorised share capital According to Section 2(8) of Companies Act, 2013, ‘authorised capital’ or ‘nominal capital’ means such capital as is authorised by the memorandum of a company to be the maximum amount of share capital of a company.
(ii) Issued capital According to Section 2(50) of the Companies Act, 2013, issued capital means such capital as the company issues from time to time for subscription.
Subscribed capital According to Section 2(86) of the Companies Act, 2013, ‘subscribed capital’ means such part of the capital which is for the time being subscribed by the members of a company.
(a) Subscribed and fully paid-up Shares are said to be ‘subscribed and fully paid-up’ when the entire nominal (face) value is called and also paid-up by the shareholders.
(b) Subscribed but not fully paid-up Shares are said to be ‘subscribed but not fully paid-up’ when
• the company has called-up the entire nominal (face) value of the share but has not received it.
• the company has not called-up the entire nominal (face) value of share.
A reference has been made two terms
• Called-up capital According to Section 2(15) of the Companies Act, 2013, ‘called-up capital’ means such part of the capital, which has been called for payment. Thus, it means the amount of nominal (face) value called-up by the company to be paid by the shareholders towards the share capital.
• Paid-up share capital According to Section 2(64) of the Companies Act, 2013, ‘paid-up share capital’ or ‘share capital paid-up’ means the amount that the shareholder has paid and the company has received against the amount ‘called up’ against the shares towards share capital.
8. Reserve Capital It is that portion of uncalled share capital which shall not be capable of being called up except in the event and for the purpose of the company being wound up.
9. Capital Reserve ‘Capital reserve’ is the reserve which is not free for distribution as dividend. It is mandatory to create capital reserve in case of capital profits earned by the company. Reserves which are created out of capital profits are not readily available for distribution as dividend among the shareholders, e.g. premium on issue of shares of debentures, profits on re-issue of shares, profits prior to incorporation, premium on redemption of debentures.
10. Minimum Subscription It is the amount stated in the prospectus as the minimum amount that must be subscribed. Unless the sum payable on application for the sum so stated (minimum subscription) has been paid to and received by the company by cheque or other instruments, security cannot be allotted.
11. Presentation of Share Capital in Company’s Balance Sheet
As per Schedule III of Companies Act, 2013, share capital is to be disclosed in company’s balance sheet in the following manner
CBSE Notes for Class 12 Accountancy
CBSE Notes for Class 12 Accountancy Img 2
Topic 2: Accounting Treatment of Issue Shares
1. Terms of Issue of Shares
(i) Issue of shares at par When shares are issued at their face value, the shares are said to have been issued at par. i.e. issue price and face value are same.
(ii) Issue of shares at premium When shares are issued at a value that is higher than the face value of the shares, the shares are said to have been issued at premium, i.e. issue price is more than face value.
2. Utilisation of Securities Premium Reserve Section 52 (2) of the Companies Act, 2013 restrict the use of the amount received as premium on securities for the following purposes
(i) In purchasing its own shares (buy back) (Section 77A).
(ii) Issuing fully paid bonus shares to the members (Section 78).
(iii) Writing-off preliminary expenses of the company (Section 78).
(iv) Writing-off the expenses of, or the commission paid or discount allowed on any issue of securities or debentures of the company (Section 78).
(v) Providing for the premium payable on the redemption of any redeemable preference shares or of any debentures of the company (Section 78).
3. Accounting Treatment for Issue of Shares for Cash
CBSE Notes for Class 12 Accountancy Img 3
4. Full Subscription of Shares When the number of shares applied for, is equal to the number of shares offered for subscription, the shares are said to be fully subscribed.
5. Over-Subscription of Shares When the number of shares applied for, is more than the number of shares offered for subscription, the shares are said to be oversubscribed. Allotment of shares cannot be made to all the applicants in full.
In case of over-subscription, following three alternatives are available (0 Rejection of applications (ii) Partial or pro-rata allotment (iii) Combination of pro-rata allotment and rejection
CBSE Notes for Class 12 Accountancy Img 4
6. Under Subscription of Shares When the number of shares applied for, is less than the number of shares offered to the public, the shares are said to be under-subscribed.
7. Issue of Shares for Consideration other than Cash
I. Issue of Shares to Vendors
In this regard, the purchase of assets and issue of shares are to be treated as two separate transactions.
(i) (a) When Assets are Purchased
Assets A/c (Individually) Dr
To Vendor
(Being assets purchased from———-)
(b) When Business is Purchased
Sundry Assets A/c Dr
Goodwill A/c* Dr
To Sundry Liabilities A/c To Vendor
To Capital Reserve A/c*
(Being business purchased from vendor for purchase consideration of Rs——-)
NOTE ‘Vendor’ is credited with purchase consideration payable to him *Either goodwill or capital Reserve will come.
(ii) On Issue of Shares
(a) At Par Vendor
To Share Capital A/c
(b) At Premium Vendor
To Share Capital A/c To Securities Premium Reserve A/c
II. Issue of Shares to Promoters
Formation Expenses/ Incorporation Cost/Goodwill A/c Dr
To Share Capital A/c
(Being … share of Rs … each issued to promoters of the company)
III. Issue of Shares to Underwriters
(i) Making Underwriting Expenses Due
Underwriting Expenses A/c Dr
To Underwriters A/c (Being underwriting commission due)
(ii) Issuing Shares to Underwriters
Underwriters A/c Dr
To Share Capital A/c
(Being …shares issued @…….per share to underwriters)
8. Calls-in-arrears When one or more shareholders fail to pay their dues at the time of allotment or call, it is technically called calls-in-arrears.
Table F of the Companies Act, 2013, provides for the payment of interest on calls-in-arrears at a rate not exceeding 10% per annum.
9. Calls-in-advance The part of the whole amount received from the shareholders before the call is made, is called calls-in-advance.
This amount is shown on the liabilities side of the balance sheet as a separate item under the head ‘share capital’ but is not added to the amount of paid-up capital.
Table F of the Companies Act, 2013, provides for the payment of interest on calls-in-advance at a rate not exceeding 12% per annum.
10. Forfeiture of Shares
Forfeiture of shares means cancellation of shares and seizure of the amount already received from defaulting shareholders.
(i) Forfeiture of Shares Originally Issued at Par
Share Capital A/c Dr (Called-up money)
To Forfeited Shares A/c (Paid-up money)
To Share Unpaid Calls A/c (Unpaid money or calls-in-arrears)
(Being forfeiture of………….shares for non-payment of call of……….per share)
(ii) Forfeiture of Shares Originally Issued at Premium and Premium was Received
Share Capital A/c Dr (Called-up money)
To Forfeited Shares A/c (Paid-up money)
To Share Allotment A/c (Unpaid money excluding premium)
To Share Unpaid Call A/c (Unpaid money or calls-in-arrears)
(Being forfeiture of …… shares for non-payment
of allotment and call of…… per share)
(iii) Forfeiture of Shares Originally Issued at Premium and Premium was not Received
Share Capital A/c Dr (Called-up money)
Securities Premium Reserve A/c Dr (Unpaid premium)
To Forfeited Shares A/c (Paid-up money)
To Share Allotment A/c (Unpaid money including premium)
To Share Unpaid Call A/c (Unpaid money or calls-in-arrears)
(Being forfeiture of …… shares for non-payment
of allotment and call of ……per share)
11. Re-issue of Shares
The directors can either cancel or re-issue the forfeited shares. Shares forfeited can be re-issued at par, at premium or at a discount
In case, they are re-issued at par, accounting entry will be
Bank A/c Dr
To Share Capital A/c
In case, shares are re-issued at a discount, the amount of discount allowed on the re-issue of forfeited shares must not exceed the amount forfeited on re-issued shares. The discount allowed on re-issue of forfeited shares should be debited to the ‘share forfeiture account’. The journal entry will be
Bank A/c Dr [With the amount received on re-issue]
*Share Forfeiture A/c Dr [With the discount allowed on re-issue]
To Share Capital A/c [With the amount credited as paid-up]
*It is calculated as
Number of Shares Re-issued x (Paid-up Value – Re-issue Price Per Share)
If the forfeited shares are re-issued at a price higher than that paid-up, the excess is credited to securities premium reserve account. The journal entry will be
Bank A/c Dr
To Share Capital A/c To Securities Premium Reserve A/c
Transfer of Balance in Forfeited Share Account Forfeited Shares A/c Dr
To Capital Reserve A/c (Being balance of share forfeiture account transferred to capital reserve account)

CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy

Accounting for Partnership: Basic Concepts – CBSE Notes for Class 12 Accountancy

Accounting for Partnership: Basic Concepts –  CBSE Notes for Class 12 Accountancy

Any change in existing agreement of partnership amounts to reconstitution of a firm. As a result, the existing agreement comes to an end and a new agreement comes into existence and the firm continues.
1. Modes of Reconstitution of a Partnership Firm
Reconstitution of a firm can take place in any of the following ways
(i) Change in the profit sharing ratio of existing partners.
(ii) Admission of a new partner.
(iii) Retirement of an existing partner.
(iv) Death of a partner.
2. Change in Profit Sharing Ratio Among the Existing Partners
When one or more partners acquire an interest in the business from another partner(s), it is said to be a change in the profit sharing ratio in a partnership firm. A change in the profit sharing ratio among the existing partners means it is a reconstitution of the firm without admission, retirement or death of a new partner(s).
The sacrifice made or gain received by a partner is calculated by deducting the new share from the old share of a partner.
Sacrificing/(Gaining) Share = Old Share – New Share
Reconstitution of a Partnership Firm: Change in Profit Sharing Ratio 43
3. Adjustments Required at the Time of Change in Profit Sharing Ratio (i) Determination of Sacrificing Ratio and Gaining Ratio
New Profit Sharing Ratio It is the ratio in which the partners are to share profits/losses in future.
Sacrificing Ratio It is the ratio in which the partners have agreed to sacrifice their share of profit in favour of other partner or partners. This ratio is calculated by taking out the difference between old profit share and new profit share.
Sacrificing Ratio = Old Ratio – New Ratio
Gaining Ratio It is the ratio in which the partners have agreed to gain their share of profit from other partner(s). This ratio is calculated by taking out the difference between new profit share and old profit share.
Gaining Ratio = New Ratio – Old Ratio
(ii) Accounting Treatment of Goodwill
The entry to be passed for adjustment of goodwill, when there is a change in profit sharing ratio is
Gaining Partners’ Capital/Current A/c Dr [In gaining ratio]
To Sacrificing Partners’ Capital/Current A/c [In sacrificing ratio]
(Being the adjustment made for goodwill on change in profit sharing ratio)
Treatment of Existing Goodwill
Goodwill (if any) appearing in the books of the firm is written-off by debiting it to all partners’ capital accounts in their old profit sharing ratio and by crediting the goodwill account.
The entry is
All Partners’ Capital/Current A/c              Dr [In old ratio]
To Goodwill A/c                                      [With book value of goodwill]
(iii) Revaluation of Assets and Reassessment of Liabilities
(a) When Revised Values are to be Recorded in the Books of Accounts
An account titled ‘Revaluation account or ‘Profit and loss adjustment account is opened for revaluation of assets and reassessment of liabilities.
Format of Revaluation Account
CBSE Notes for Class 12 Accountancy Img 1
(b) When Revised Values are not to be Recorded in the Books of Accounts
If partners decide to record the net effect of revaluation of assets and liabilities without affecting the old amount of assets and liabilities, a single adjusting entry ‘ involving the capital accounts of gaining partners and sacrificing partners is passed.
(iv) Accounting Treatment of Reserves, Accumulated Profits or Losses
CBSE Notes for Class 12 Accountancy Img 2
Adjustment of Reserves and Accumulated Profits/Losses through Capital Accounts Only
A single adjusting entry involving the capital accounts of sacrificing and gaining partner is passed, when the partners decide to record net effect of reserves and accumulated profits/losses without affecting the old figures.
In Case of Profit
Gaining Partner’s Capital A/c                      Dr
To Sacrificing Partner’s Capital A/c
In Case of Loss
Sacrificing Partner’s Capital A/c                 Dr
To Gaining Partner’s Capital A/c

CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy

Accounting for Not-for-Profit Organisation – CBSE Notes for Class 12 Accountancy

Accounting for Not-for-Profit Organisation –  CBSE Notes for Class 12 Accountancy

CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy

Topic1: Concepts of Partnership and Partnership Deed
1. Partnership According to Section 4 of the Indian Partnership Act, 1932, ‘Partnership is defined as, ‘the relation between persons who have, agreed to share the profits of a business carried on by all or any of them acting for all’.
2. Nature of Partnership Partnership is a separate business entity from accounting point of view, but from a legal viewpoint, partnership firm is not a separate legal entity from its partners.
3. Features of Partnership
(i) Two or more persons (ii) Agreement
(iii) Business (iv) Mutual agency
(v) Sharing of profits and losses (vi) Liability of partnership
(vii) Management and control (viii) Registration
4. Partnership Deed It is a document which contains the terms and conditions of partnership agreement.
A firm should have a partnership deed because:
(i) It regulates the rights, duties and liabilities of the partners.
(ii) It avoids disputes in future by acting as a proof.
5. Accounting Rules Applicable in the Absence of Partnership Deed
(i) Sharing of profits and losses – Equally.
(ii) Interest on capital – Not allowed.
(iii) Remuneration or salary to the partners – Not allowed.
(iv) Interest on partner’s loan – Allowed @ 6% per annum.
(v) Interest on drawings – Not charged.
Topic 2: Computation of Appropriation Items and Charge Items
1. Interest on Capital Interest on capital is allowed to compensate partners for contributing capital to the firm. It is paid only if the same has been provided for in the partnership.
Accounting for Not-for-Profit Organisation - CBSE Notes for Class 12 Accountancy Img 1
JOURNAL
(i) Interest on Capital A/c                              Dr
To Partners Capital/Current A/c
(ii) Profit and Loss Appropriation A/c       Dr
To Interest on Capital A/c
Different cases related to interest on capital:
(i) When partnership deed is silent-Not allowed
(ii) When partnership deed provides that interest on capital is to be allowed.
There are three possible conditions:
(a) In case of loss Not allowed.
(b) In case of sufficient profit Interest on capital is allowed in full.
(c) In case of insufficient profit Interest on capital is allowed proportionately to the extent of profits. In this case profits are distributed in capital ratio.
(iii) If interest on capital is to be provided as a charge, it is allowed in full irrespective of profit or losses.
NOTE (i) Interest on additional capital will be calculated for the period it remained with the firm, i.e. from the date of introduction of additional capital to the last day of accounting year.
If Opening Capital is not given, it can be calculated as:
Opening Capital = Closing Capital + Drawings – Profits – Additional Capital
(ii) Interest on capital is calculated on the opening balance of the capital for the full year.
2. Interest on Partner’s Drawings The amount withdrawn by partners in cash or in kind for their personal use in anticipation of profits, is termed as drawings. When the partnership deed is silent, no interest on drawings is charged. Interest on drawings is calculated with reference to time period for which money was withdrawn. Interest on drawings in different cases is calculated as follows:
(i) If a partner withdraws a fixed amount in the beginning, middle and end of each period.
Accounting for Not-for-Profit Organisation - CBSE Notes for Class 12 Accountancy Img 2
Value of time under different circumstances will be as under:
Accounting for Not-for-Profit Organisation - CBSE Notes for Class 12 Accountancy Img 3
(ii) When an unequal amount is withdrawn at different dates, the interest on drawings is calculated with the help of
(a) Simple method
(b) Product method
Accounting for Not-for-Profit Organisation - CBSE Notes for Class 12 Accountancy Img 4
(iii) If the date of withdraw is not given, then the interest on total drawings for the year is calculated for a six month period on an average basis.
3. Accounting Treatment of Salary or Commission to a Partner
Salary or commission to a partner is to be allowed if the partnership agreement provides for the same. Salary or commission to a partner is an appropriation out of profits and not a charge against the profits, i.e. they are to be allowed only if there are profits and hence, must be transferred to the debit of profit and loss appropriation account and not to the debit of profit and loss account.
Commission may be allowed as a percentage of net profit before charging such commission or after charging such commission.
Accounting for Not-for-Profit Organisation - CBSE Notes for Class 12 Accountancy Img 5
NOTE: Charges such as interest on partner’s loans, manager’s salary and commission must be deducted from profit before transferring it to profit and loss appropriation account.
4. Accounting Treatment of Interest on Partner’s Loan to the Firm Interest on partner’s loan is a charge against the profits and not an appropriation out of profits and hence, must be transferred to the debit of profit and loss account and not to the debit of profit and loss appropriation account.
NOTE: (i) If there is an agreement as to the rate of interest, partner is entitled to an interest on loan at an agreed rate of interest. If there is no agreement as to the rate of interest, partner is entitled to interest on loan @ 6% per annum.
(ii) Interest on partner’s loan is not recorded in the partner’s capital/current account but it should be recorded to the credit side of partner’s loan account if it is outstanding.
5. Rent Paid to a Partner It is a charge against the profit and not an appropriation out of profits. It is, therefore, debited to profit and loss account and credited to partner’s current account in case of fixed capitals or to partner’s capital account, when capitals are fluctuating.
Topic 3: Maintenance of Capital Accounts of Partners: Fixed and Fluctuating Capital
1. Fixed Capital Under this method, the capitals of the partners shall remain fixed, unless additional capital is introduced or a part of the capital is withdrawn, as per the agreement among the partners.
Two accounts are maintained under this method:
Capital accounts and current accounts.
Transactions related to introduction and withdrawal of capital are recorded in capital account, rest are recorded in current account.
Capital account will always have credit balance and current account may have credit or debit balance.
Accounting for Not-for-Profit Organisation - CBSE Notes for Class 12 Accountancy Img 6
2. Fluctuating Capital Under this method, only one account, i.e. capital account of each partner is maintained.
All transactions are recorded in capital accounts. Generally, capital account has credit balance but in exceptional cases it may have debit balance due to heavy losses or withdrawals.
Accounting for Not-for-Profit Organisation - CBSE Notes for Class 12 Accountancy Img 7

Reconstitution of a Partnership Firm — Admission of a Partner – CBSE Notes for Class 12 Accountancy

Reconstitution of a Partnership Firm — Admission of a Partner –  CBSE Notes for Class 12 Accountancy

CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy

Topic 1: introduction and New Profit Sharing Ratio and Sacrificing Ratio
1. Meaning Admission of a partner is one of the modes of reconstituting the firm under which old partnership comes to an end and a new one between all partners (including incoming partner) comes into existence.
According to Section 31(1) of Indian Partnership Act, 1932, ‘A new partner can be admitted only with the consent of all the existing partners’.
A new partner is admitted for the following purposes:
(i) For procuring additional capital.
(ii) For acquiring additional managerial skills.
A newly admitted partner acquires following two main rights in the firm:
(i) Share in the future profits of the firm.
(ii) Share in the assets of the firm.
2. Adjustments Required at the Time of Admission of a New Partner
(i) Calculation of new profit sharing ratio and sacrificing ratio.
(ii) Accounting treatment of goodwill.
(iii) Accounting treatment of revaluation of assets and re-assessment of liabilities.
(iv) Accounting treatment of reserves accumulated profit and losses.
(v) Adjustment of capital.
3. New Profit Sharing Ratio The ratio in which all the partners (including incoming partner) share the future profits and losses is known as new profit sharing ratio.
New Profit Sharing Ratio = Old Ratio – Sacrificing Ratio
4. Sacrificing Ratio It is the ratio in which the old partners have agreed to sacrifice their share of profits in favour of new or incoming partner.
Sacrificing Ratio = Old Ratio – New Ratio
Topic 2: Treatment of Goodwill
1. Accounting Treatment of Goodwill When a new partner is admitted, his share in future profits of the firm is equal to the sacrifice of profit by an existing partner or partners of the firm, the amount he pays to compensate this sacrifice is called goodwill.
2. Various cases related to the treatment of goodwill
(i) When premium for goodwill is paid privately by new partner.
In case a new partner pays premium to the old partners privately or directly or outside the business, it will not be recorded because it is an out of business transaction. However, entry will be passed for capital brought in by new partner.
(ii) When premium for goodwill is brought in business by new partner in cash and retained in the business
(a) Write-off the existing goodwill (if any) appearing in the books of the firms
Old Partner’s Capital A/c Dr [In old ratio]
To Goodwill A/c
(b) For bringing premium for goodwill and capital in cash:
Cash/Bank A/c Dr
To Premium for Goodwill A/c To New Partner’s Capital A/c
(c) For distributing premium to sacrificing (old) partners in their sacrificing ratio:
Premium for Goodwill A/c Dr
To Sacrificing Partner’s Capital A/c
(iii) When premium for goodwill is brought in kind
(a) For bringing premium for goodwill and capital in assets:
Assets A/c Dr
To Premium for Goodwill A/c To New Partner’s Capital A/c
(b) For distributing premium to sacrificing (old) partners in their sacrificing ratio:
Premium for Goodwill A/c Dr
To Sacrificing Partner’s Capital A/c
(iv) When premium for goodwill is brought in by new partner and is withdrawn by old (sacrificing) partners folly or partly.
(a) For bringing premium for goodwill in cash by new partner
Cash/Bank A/c Dr [Amount of premium]
To Premium for Goodwill A/c
(b) For sharing of premium for goodwill by sacrificing partners
Premium for Goodwill A/c Dr [Amount of premium]
To Sacrificing Partner’s Capital A/c (in sacrificing ratio)
(c) For withdrawal of premium money by sacrificing partners fully/partly
Sacrificing Partner’s Capital A/c (Amount withdrawn) Dr To Cash/Bank A/c
(v) When a new partner brings only a part of premium for goodwill in cash
(a) For amount brought in by incoming Partner
Cash/Bank A/c Dr
To Premium for Goodwill A/c To New Partner’s Capital A/c
(b) For distributing the total goodwill due from incoming partner to sacrificing (old) partners in their sacrificing ratio
Premium for Goodwill A/c Dr
New Partner’s Capital/ Current A/c Dr
To Sacrificing (old) Partner’s Capital/ Current A/c
(vi) When the new partner is unable to bring his share of premium for goodwill in cash or kind
New Partner’s Capital/Current A/c Dr
To Sacrificing (old) Partner’s Capital/Current A/c
3. Hidden Goodwill Hidden or inferred goodwill is the excess of desired total capital of the firm over the actual combined capital of all the partners. In case, the value of goodwill is not given at the time of admission of a new partner, it is required to be calculated on the basis of an inferred method of profit sharing ratio or capitalisation.
CBSE Notes for Class 12 Accountancy Img 1
Topic 3: Revaluation of Assets and Re-assessment of Liabilities
1. Meaning of Revaluation Account The account which is prepared to record changes in the value of assets and liabilities at the time of admission, retirement, death and change in profit sharing ratio is called revaluation account.
2. Accounting Treatment
The relevant journal entries are:
CBSE Notes for Class 12 Accountancy Img 2
Format of Revaluation Account
CBSE Notes for Class 12 Accountancy Img 3
3. Accounting Treatment of Reserves, Undistributed Profits or Losses
The new partner is not entitled to any share in undistributed profits or losses appearing in the balance sheet at the time of admission, as these are earned by the old partners. So, these should be transferred to old partners’ capital/current account.
Journal entries passed will be
(i) For Undistributed Profits,
General Reserve A/c Profit and Loss A/c Workmen Compensation Fund A/c Investment Fluctuation Fund A/c between book value and market value]
To Old Partner’s Capital/Current A/c [Old ratio]
(ii) For Undistributed Losses
Old Partner’s Capital/Current A/c Dr [Old ratio]
To Profit and Loss A/c To Deferred Revenue Expenditure A/c
Topic 4: Adjustment of Capital
At the time of admission of a new partner, the partners may agree that their capitals should also be adjusted so as to be proportionate to their profit sharing ratio.
The capitals of partners may be adjusted in any of the following ways:
(i) Adjusting the capitals of old partners on the basis of the capital of incoming partner
(When the total capital of the new firm is not given)
Steps involved in adjusting the capitals of old partners:
Step 1 Calculate total capital of the firm on the basis of capital of new partner.
Step 2 Calculate the new capitals of each partner.
Step 3 Ascertain the present capital of old partners (adjusted).
Step 4 Calculate the surplus/deficit capital by comparing Step 2 and Step 3.
(ii) Determining the new partner’s capital on the basis of combined capital of old partners
Steps involved in the determination of capital of new partner:
Step 1 Calculate the adjusted old capitals of old partners (after all adjustments have been made.
Step 2 Calculate the total capital of new firm.
Step 3 Calculate the total capitals of new partners as follows:
Total Capital (Step 2) x Share of New Partner

Dissolution of Partnership Firm – CBSE Notes for Class 12 Accountancy

Dissolution of Partnership Firm –  CBSE Notes for Class 12 Accountancy

CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy

1. Dissolution Dissolution means discontinuance of existing relationship among the partners. According to Indian Partnership Act, 1932, dissolution may be either of partnership or of a firm.
2. Dissolution of Partnership It changes the existing relationship between partners but the firm may continue its business as before.
3. Dissolution of Partnership Firm Dissolution of firm means dissolution of partnership among all the partners in the firm. In this case, business of the firm also comes to an end.
4. Modes of Dissolution of Partnership Firm
(i) Dissolution by mutual agreement (ii) Compulsory dissolution
(iii) Dissolution on the happening of an event (iv) Dissolution by notice
(v) Dissolution by court
5. Settlement of Accounts in Case of Dissolution of Firm
(i) Treatment of Losses
Losses shall be paid, first out of profits, then out of partner’s capital and lastly, by the partners individually in their profit sharing ratio, if necessary.
(ii) Application of Assets
(a) Payment to outsiders/creditors
(b) Loans and advances of partners
(c) Payment of capital of partners
(d) The balance shall be divided among the partners in their profit sharing ratio
6. Treatment of Firms Debt and Private Debts
Where both the debts of the firm and private debts of a partner co-exist.
The following rules, as stated in Section 49 of the Act, shall apply
(i) Firm’s property is applied first in payment of firm’s debts and if there is any surplus, then the share of each partner is applied in the payment of his private debts or paid to him.
(ii) Partner’s private property is applied first in payment of his private debts and the surplus (if any) in payment of firm’s debts if the firms liabilities exceed the firm’s assets.
7. Accounting Treatment on Dissolution of Firm
On dissolution, the books of the firm are closed. The process is completed by opening the following accounts:
(i) Realisation account (ii) Partners’ capital account
(iii) Partners’ loan account (iv) Cash/bank account
(i) Realisation Account
It is a nominal account prepared at the time of dissolution of partnership firm to show profit or loss on realisation of assets and payment of liabilities.
CBSE Notes for Class 12 Accountancy Img 1
NOTE: (i) Goodwill appearing in the balance sheet is treated as any other asset. In case, question is silent about the realisation of goodwill, it is assumed the goodwill does not have any value and no amount is realised for it.
(ii) When an asset is transferred to realisation account, its corresponding reserve or provision appearing on the liabilities side of balance sheet is also transferred to realisation account.
(iii) In the absence of any information regarding realisation of assets (tangible or intangible) and settlement of any outside liabilities, it should be assumed that no amount has been realised from such assets and an amount equal to the book value of such liability has been paid off.
Format of Realisation Account
CBSE Notes for Class 12 Accountancy Img 2
NOTE: All provisions created against any asset or liabilities/provision for doubtful debts, provision for depreciation should be transferred to realisation account on credit or debit side as the case may be and it should be noted that those assets or liabilities should appear in realisation account at gross value.
(ii) Partners’ Capital Account
Balance of partner’s capital and current account are recorded in this account. Any asset of the firm taken over by the partner is recorded on the debit side and liability taken over is recorded on the credit side. Undistributed profits and reserves are recorded on the credit side and undistributed losses or fictitious assets are recorded on the debit side. When capital accounts are maintained following fixed capital account method, partners have current accounts also. These current accounts may have credit or debit balance. Current accounts are closed by transferring them to concerned partner’s fixed capital accounts.
The entries are as follows
(a) In case of debit balance in a current accounts of a partner
Concerned Partners’ Capital A/c               Dr
To Concerned Partners’ Current A/c
(b) In case of credit balance in a current account of a partner
Concerned Partners’ Current A/c            Dr
To Concerned Partners’ Capital A/c
The balance of partner’s capital account are closed in the following manner
(a) For making final payment to a partner (In case of credit balance)
Partner’s Capital A/c                                 Dr
To Cash/Bank A/c
(b) When a partner is required to bring in cash (In case of a debit balance)
Cash/Bank A/c                                         Dr
To Partner’s Capital A/c
Format of Partner’s Capital Account
CBSE Notes for Class 12 Accountancy Img 3
(iii) Partner’s Loan Account
Partner’s loan will be paid after all outside liabilities are paid Partner’s Loan A/c       Dr
To Cash/Bank A/c
(iv) Bank or Cash Account
It is a real account. On debit side, opening balance, amount realised through sale of assets and any amount paid in by the partners are shown. On the credit side, all the payments for liabilities, realisation expenses and final settlement made to partners are shown. In case both cash and bank balances appear in balance sheet, it is always better to open a single account. It is a self-balancing account.
Format of Cash/Bank Account
CBSE Notes for Class 12 Accountancy Img 4
8. Preparation of Memorandum Balance Sheet for Ascertaining Sundry Assets
Memorandum balance sheet is prepared for calculating the missing figures of sundry assets. Sometimes, the total value of sundry assets is not given. However, the value realised from the assets is given, also the partners capitals and other liabilities are also given. In that case, sundry assets have to be ascertained by preparing the old balance sheet. The amount of capitals and other liabilities are added. The sum total is the total amount of assets.

Electric Charges and Fields Class 12 Notes Chapter 1

Here are the detailed Physics Electric Charges and Fields Class 12 Notes Chapter 1. Thus the notes will be very helpful in preparation for examinations. Class 12 Physics notes cover all the important topics that are listed. It gives students a basic understanding of the past and the development of laws in physics. https://meritbatch.com/electric-charges-fields-cbse-notes-class-12-physics/

Electric Charges and Fields Class 12 Notes Chapter 1

Electric Charges And Fields Class 12 Notes
1. Electric Charge
Charge is the property associated with matter due to which it produces and experiences electric and magnetic effect.
2. Conductors and Insulators Those substances which readily allow the passage of electricity through them are called conductors, e.g. metals, the earth and those substances which offer high resistance to the passage of electricity are called insulators, e.g. plastic rod and nylon.
3. Transference of electrons is the cause of frictional electricity.
4. Additivity of Charges Charges are scalars and they add up like real numbers. It means if a system consists of n charges q1, q2, q3 , … ,qn, then total charge of the system will be q1 +q2 + … +qn.
5. Conservation of Charge The total charge of an isolated system is always conserved, i.e. initial and final charge of the system will be same.
6. Quantisation of Charge Charge exists in discrete amount rather than continuous value and hence, quantised.
Mathematically, charge on an object, q=±ne
where, n is an integer and e is electronic charge. When any physical quantity exists in discrete packets rather than in continuous amount, the quantity is said to be quantised. Hence, charge is quantised.
Electric Charges And Fields Class 12
7. Units of Charge

(i) SI unit coulomb (C)
(ii) CGS system
(a) electrostatic unit, esu of charge or stat-coulomb (stat-C)
(b) electromagnetic unit, emu of charge or ab-C (ab-coulomb)
1 ab-C = 10 C, 1 C = 3 x 109 stat-C
Electric Charges And Fields Notes
8. Coulomb’s Law
It states that the electrostatic force of interaction or repulsion acting between two stationary point charges is given by
Electric Charges and Fields Class 12 Notes Chapter 1 Img 1
9. Electrostatic forces (Coulombian forces) are conservative forces.
10. Principle of Superposition of Electrostatic Forces This principle states that the net electric force experienced by a given charge particle q0 due to a system of charged particles is equal to the vector sum of the forces exerted on it due to all the other charged particles of the system.
Electric Charges and Fields Class 12 Notes Chapter 1 Img 2
Electric Charges and Fields Class 12 Notes Chapter 1 Img 3
Electric Charges and Fields Class 12 Notes Chapter 1 Img 4
Electric Field And Charges Class 12 Notes
11. Electrostatic Force due to Continuous Charge Distribution

The region in which charges are closely spaced is said to have continuous distribution of charge. It is of three types given as below:
Electric Charges and Fields Class 12 Notes Chapter 1 Img 5
Class 12 Electric Charges And Fields Notes
12. Electric Field Intensity
The electric field intensity at any point due to source charge is defined as the force experienced per unit positive test charge placed at that point without disturbing the source charge. It is expressed as
Electric Charges and Fields Class 12 Notes Chapter 1 Img 6
Notes Of Electric Charges And Fields
13. Electric Field Intensity (EFI) due to a Point Charge

Electric Charges and Fields Class 12 Notes Chapter 1 Img 7
14. Electric Field due to a System of Charges
Same as the case of electrostatic force, here we will apply principle of superposition, i.e.
Electric Charges and Fields Class 12 Notes Chapter 1 Img 8
Electric Charges and Fields Class 12 Notes Chapter 1 Img 9
Electric Charge Class 12
15. Electric Field Lines
Electric field lines are a way of pictorially mapping the electric field around a configuration of charge(s). These lines start on positive charge and end on negative charge. The tangent on these lines at any point gives the direction of field at that point.
16. Electric field lines due to positive and negative charge and their combinations are shown as below:
Electric Charges and Fields Class 12 Notes Chapter 1 Img 10
17. Electric Dipole Two point charges of same magnitude and opposite nature separated by a small distance altogether form an electric dipole.
18. Electric Dipole Moment The strength of an electric dipole is measured by a vector quantity known as electric dipole moment (p) which is the product of the charge (q) and separation between the charges (2l).
Electric Charges and Fields Class 12 Notes Chapter 1 Img 11
Electric Charges and Fields Class 12 Notes Chapter 1 Img 12
19. Electric Field due to a Dipole Electric field of an electric dipole is the space around the dipole in which the electric effect of the dipole can be experienced.
Electric Charges and Fields Class 12 Notes Chapter 1 Img 13
Electric Field Class 12 Notes
21. Torque
on an electric dipole placed in a uniform electric field (E) is given by
Electric Charges and Fields Class 12 Notes Chapter 1 Img 14
Electric Charges and Fields Class 12 Notes Chapter 1 Img 15
24. Dipole is in stable equilibrium in uniform electric field when angle between p and E is 0° and in unstable equilibrium when angle θ= 180°.
25. Net force on electric dipole placed in a uniform electric field is zero.
26. There exists a net force and torque on electric dipole when placed in non-uniform electric field.
27. Work done in rotating the electric dipole from θ1 to θ2 is W = pE (cos θ1 – cos θ2)
Electric Field Class 12
28. Potential energy of electric dipole
when it rotates from θ1 = 90° to θ2 =0
U = pE (cos 90° – cosθ) = -pE cos θ = – p .E
29. Work done in rotating the dipole from the position of stable equilibrium to unstable equilibrium, i.e. when θ1 = 0° and θ2 = π.
W = 2 pE
30. Work done in rotating the dipole from the position of stable equilibrium to the position in which dipole experiences maximum torque, i.e. when θ1 = 0° and θ2 = 90°.
W = pE

CBSE Notes

Units and Measurement Class 11 Notes Physics Chapter 2

These Chapter 2 Units and Measurement are prepared by our panel of highly experienced teachers keeping in mind the level of preparation needed by the students to prepare for Class 11 Notes Physics. Class 11 Physics notes cover all the important topics that are listed. It gives students a basic understanding of the past and the development of laws in physics. https://meritbatch.com/units-measurements-cbse-notes-class-11-physics/

Units and Measurement Class 11 Notes Physics Chapter 2

Units And Measurements Class 11

  • Measurement
    The process of measurement is basically a comparison process. To measure a physical quantity, we have to find out how many times a standard amount of that physical quantity is present in the quantity being measured. The number thus obtained is known as the magnitude and the standard chosen is called the unit of the physical quantity.
  •  Unit
    The unit of a physical quantity is an arbitrarily chosen standard which is widely accepted by the society and in terms of which other quantities of similar nature may be measured.
  • Standard
    The actual physical embodiment of the unit of a physical quantity is known as a standard of that physical quantity.
    • To express any measurement made we need the numerical value (n) and the unit (μ). Measurement of physical quantity = Numerical value x Unit
    For example: Length of a rod = 8 m
    where 8 is numerical value and m (metre) is unit of length.
  • Fundamental Physical Quantity/Units
    It is an elementary physical quantity, which does not require any other physical quantity to express it. It means it cannot be resolved further in terms of any other physical quantity. It is also known as basic physical quantity.
    The units of fundamental physical quantities are called fundamental units.
    For example, in M. K. S. system, Mass, Length and Time expressed in kilogram, metre and second respectively are fundamental units.
  • Derived Physical Quantity/Units
    All those physical quantities, which can be derived from the combination of two or more fundamental quantities or can be expressed in terms of basic physical quantities, are called derived physical quantities.
    The units of all other physical quantities, which car. be obtained from fundamental units, are called derived units. For example, units of velocity, density and force are m/s, kg/m3, kg m/s2 respectively and they are examples of derived units.
  • Systems of Units
    Earlier three different units systems were used in different countries. These were CGS, FPS and MKS systems. Now-a-days internationally SI system of units is followed. In SI unit system, seven quantities are taken as the base quantities.
    (i) CGS System. Centimetre, Gram and Second are used to express length, mass and time respectively.
    (ii) FPS System. Foot, pound and second are used to express length, mass and time respectively.
    (iii) MKS System. Length is expressed in metre, mass is expressed in kilogram and time is expressed in second. Metre, kilogram and second are used to express length, mass and time respectively.
    (iv) SI Units. Length, mass, time, electric current, thermodynamic temperature, Amount of substance and luminous intensity are expressed in metre, kilogram, second, ampere, kelvin, mole and candela respectively.
  • Definitions of Fundamental Units
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 1
  • Supplementary Units
    Besides the above mentioned seven units,there are two supplementary base units. these are (i) radian (rad) for angle, and (ii) steradian (sr) for solid angle.
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 2
  • Advantages of SI Unit System
    SI Unit System has following advantages over the other Besides the above mentioned seven units, there are two supplementary base units. These are systems of units:
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 3
    (i) It is internationally accepted,
    (ii) It is a rational unit system,
    (iii) It is a coherent unit system,
    (iv) It is a metric system,
    (v) It is closely related to CGS and MKS systems of units,
    (vi) Uses decimal system, hence is more user friendly.
  • Other Important Units of Length
    For measuring large distances e.g., distances of planets and stars etc., some bigger units of length such as ‘astronomical unit’, ‘light year’, parsec’ etc. are used.
    • The average separation between the Earth and the sun is called one astronomical unit.
    1 AU = 1.496 x 1011 m.
    • The distance travelled by light in vacuum in one year is called light year.
    1 light year = 9.46 x 1015 m.
    • The distance at which an arc of length of one astronomical unit subtends an angle of one second at a point is called parsec.
    1 parsec = 3.08 x 1016 m
    • Size of a tiny nucleus = 1 fermi = If = 10-15 m
    • Size of a tiny atom = 1 angstrom = 1A = 10-10 m
  • Parallax Method
    This method is used to measure the distance of planets and stars from earth.
    Parallax. Hold a pen in front of your eyes and look at the pen by closing the right eye and ‘ then the left eye. What do you observe? The position of the pen changes with respect to the background. This relative shift in the position of the pen (object) w.r.t. background is called parallax.
    If a distant object e.g., a planet or a star subtends parallax angle 0 on an arc of radius b (known as basis) on Earth, then distance of that distant object from the basis is given by
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 4
    • To estimate size of atoms we can use electron microscope and tunneling microscopy technique. Rutherford’s a-particle scattering experiment enables us to estimate size of nuclei of different elements.
    • Pendulum clocks, mechanical watches (in which vibrations of a balance wheel are used) and quartz watches are commonly used to measure time. Cesium atomic clocks can be used to measure time with an accuracy of 1 part in 1013 (or to a maximum discrepancy of 3 ps in a year).
    • The SI unit of mass is kilogram. While dealing with atoms/ molecules and subatomic particles we define a unit known as “unified atomic mass unit” (1 u), where 1 u = 1.66 x 10-27 kg.
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 5
  • Estimation of Molecular Size of Oleic Acid
    For this 1 cm3 of oleic acid is dissolved in alcohol to make a solution of 20 cm3. Then 1 cm3 of this solution is taken and diluted to 20 cm3, using alcohol. So, the concentration of the solution is as follows:
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 6
    After that some lycopodium powder is lightly sprinkled on the surface of water in a large trough and one drop of this solution is put in water. The oleic acid drop spreads into a thin, large and roughly circular film of molecular thickness on water surface. Then, the diameter of the thin film is quickly measured to get its area A. Suppose n drops were put in the water. Initially, the approximate volume of each drop is determined (V cm3).
    Volume of n drops of solution = nV cm3
    Amount of oleic acid in this solution
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 7
    The solution of oleic acid spreads very fast on the surface of water and forms a very thin layer of thickness t. If this spreads to form a film of area A cm2, then thickness of the film
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 8
    If we assume that the film has mono-molecular thickness, this becomes the size or diameter of a molecule of oleic acid. The value of this thickness comes out to be of the order of 10-9 m.
  • Dimensions
    The dimensions of a physical quantity are the powers to which the fundamental units of mass, length and time must be raised to represent the given physical quantity.
  • Dimensional Formula
    The dimensional formula of a physical quantity is an expression telling us how and which of the fundamental quantities enter into the unit of that quantity.
    It is customary to express the fundamental quantities by a capital letter, e.g., length (L), mass (AT), time (T), electric current (I), temperature (K) and luminous intensity (C). We write appropriate powers of these capital letters within square brackets to get the dimensional formula of any given physical quantity.
  • Applications of Dimensions
    The concept of dimensions and dimensional formulae are put to the following uses:
    (i) Checking the results obtained
    (ii) Conversion from one system of units to another
    (iii) Deriving relationships between physical quantities
    (iv) Scaling and studying of models.
    The underlying principle for these uses is the principle of homogeneity of dimensions. According to this principle, the ‘net’ dimensions of the various physical quantities on both sides of a permissible physical relation must be the same; also only dimensionally similar quantities can be added to or subtracted from each other.
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 9
  • Limitations of Dimensional Analysis
    The method of dimensions has the following limitations:
    (i) by this method the value of dimensionless constant cannot be calculated.
    (ii) by this method the equation containing trigonometric, exponential and logarithmic terms cannot be analyzed.
    (iii) if a physical quantity in mechanics depends on more than three factors, then relation among them cannot be established because we can have only three equations by equalizing the powers of M, L and T.
    (iv) it doesn’t tell whether the quantity is vector or scalar.
  • Significant Figures
    The significant figures are a measure of accuracy of a particular measurement of a physical quantity.
    Significant figures in a measurement are those digits in a physical quantity that are known reliably plus the first digit which is uncertain.
  • The Rules for Determining the Number of Significant Figures
    (i) All non-zero digits are significant.
    (ii) All zeroes between non-zero digits are significant.
    (iii) All zeroes to the right of the last non-zero digit are not significant in numbers without decimal point.
    (iv) All zeroes to the right of a decimal point and to the left of a non-zero digit are not significant.
    (v) All zeroes to the right of a decimal point and to the right of a non-zero digit are significant.
    (vi) In addition and subtraction, we should retain the least decimal place among the values operated, in the result.
    (vii) In multiplication and division, we should express the result with the least number of significant figures as associated with the least precise number in operation.
    (viii) If scientific notation is not used:
    (a) For a number greater than 1, without any decimal, the trailing zeroes are not significant.
    (b) For a number with a decimal, the trailing zeros are significant.
  •  Error
    The measured value of the physical quantity is usually different from its true value. The result of every measurement by any measuring instrument is an approximate number, which contains some uncertainty. This uncertainty is called error. Every calculated quantity, which is based on measured values, also has an error.
  • Causes of Errors in Measurement
    Following are the causes of errors in measurement:
    Units and Measurement Class 11 Note
    Least Count Error. The least count error is the error associated with the resolution of the instrument. Least count may not be sufficiently small. The maximum possible error is equal to the least count.
    Instrumental Error. This is due to faulty calibration or change in conditions (e.g., thermal expansion of a measuring scale). An instrument may also have a zero error. A correction has to be applied.
    Random Error. This is also called chance error. It makes to give different results for same measurements taken repeatedly. These errors are assumed to follow the Gaussian law of normal distribution.
    Accidental Error. This error gives too high or too low results. Measurements involving this error are not included in calculations.
    Systematic Error. The systematic errors are those errors that tend to be in one direction, either positive or negative. Errors due to air buoyancy in weighing and radiation loss in calorimetry are systematic errors. They can be eliminated by manipulation. Some of the sources of systematic errors are:
    (i) intrumental error
    (ii) imperfection in experimental technique or procedure
    (iii) personal errors
  • Absolute Error, Relative Error and Percentage Error

Units and Measurement Class 11 Notes Physics Chapter 2 Img 11
Units and Measurement Class 11 Notes Physics Chapter 2 Img 12

  1. Combination of Errors
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 15
  2. IMPORTANT TABLES
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 13
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 14
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 16
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 18
    Units and Measurement Class 11 Notes Physics Chapter 2 Img 17