PROFIT AND LOSS APPROPRIATION ACCOUNT

Transaction of the partnership are recorded according to the double entry system of accounting.For recording the transactions the procedure followed is similar to that of the sole proprotoship. Staring from journal , cash book and other subsidiary books Viz. Purchases books sales books etc. Ledger and trail balance are prepared to know about the profitabilty and financial position of the business. Till here there is a is no diffrence between the accounts of a sole proprietor and a partnership firm. Now the question arise that how to divide the profit or losses among the partners and how to make other appropriations like salary,commission,interst on capital etc.

So after making the profit and loss account of a partnership firm the next step is to divide the profits or losses among the partners and to make other appropriations like interest in capital, salary, commission, etc For this purpose an other account is prepared profit and loss appropriation account.

This account is prepared to show the division of profit and other appropriation among partners like salary, commission, interst on capital etc

NEED FOR THE VALUATION OF GOODWILL

The valuation of goodwill of a sole proprietorship is done when the business being sold, but in case of partnership firm and a joint stock company goodwill can be sold to another business entity without selling the whole business.Hence when you are going to sell the goodwill of your business, you should be assured of the value of your goodwill at that particular time.

In case of a partnership firm, there is a need for the valuation of goodwill of the firm in the following cases.

1. In case of a change in the profit sharing ratio of the firm;
2. In case of admission of a new partner
3. In case of death or retirement of an old partner
4. In case of sale/amalgamation of the firm

In the case of joint stock company, Goodwill is valued in the following circumstances:

1. In case of amalgamation of two or more companies.
2. In case of taking over of business of a company or another company
3. In case of taking over the business of the company by government
4. In case of conversion of shares in one class in to another
5. If a company wants to acquire control of another company.
6. In case of valuation of shares of the company for taxation purposes, If stock exchange quotations are not available.

CALCULATION OF GOODWILL IN WEIGHTED AVERAGE PROFIT METHOD

The weighted average profit method is an improvement over simple average profit method.

Under this method weights are assigned to each year profit for calculating goodwill.

the profits of each year are multiplied with the respective weight assigned to recent year.Usually more weightage is assigned to recent years. The product of the profits with weights is added. This sum of products is then divided by the total number of weights. This method is suitable in case of rising trend of profits.

FORMULA: Weighted Average profit= sum of weighted profits/sum of weights

VALUE OF GOODWILL= Weighted Average Profits *No. of years purchase.

ACCOUNTING

There are mainly three types of accounts

1. Real accounts
2. Personal accounts
3. Nominal accounts

REAL ACCOUNTS

Accounts related to assets come under the category of  real accounts e.g land, furniture,machinery,goodwill,patent are real accounts. Some of the assess of the business are such which you can touch, feel and see e.g. Land, machinery, furniture are such assets.Tangible assets have physical existence. Some of the examples of the tangible assets are cash,inventories,debtors,securities,land,building,machinery,furniture etc.

In business its not necessary that all assets must have a physical existence. Some assets are which cannot be touched, seen or felt but they have a economic value. The example of such assets are goodwill,patents, trademark,brand value, human intelligence.These assets are called intangible assets.

PERSONAL ACCOUNTS

Accounts related to persons are called personal accounts. In business we have to deal with a number of persons. Some are living like us and some are artificial which do not have a living existence but have a separate legal existence. Thus in Accountany we classify persons in to natural persons and  artificial persons.

Natural persons are the persons who are living e.g Rahul, Mohit

Artificial persons are all the firms , companies, institutions with whom you deal.

NOMINAL ACCOUNTS

These are the accounts related incomes and expenditures of a business entity. Expenditure and expenses are the amount paid or payable which has given its benifit to the business in the fiscal year. eg salaries, rent, transportation,electricity, taxes..etc

Incomes are the receipts which increase the profits of the business. Examples of commission received, interest received,divedent received etc..  

poem:

A BABY VIEW OF ABORTION(yoonoos peerbocus)

I came as tomorrow 

swaddled in innocence

to your warm womb

mother.....

with out your choice

or mine

destined to up date

with time

our human tree

but before love

grew in to flesh and words

what is unfinished creation

a precipitation of blood

became my transcendence

A CIRCLE(sahaha lalithambika)

The earth we live is a circle .

Hot hot sun is a circle.

The cool moon is a circle.

Delicious orange is a circle.

Bangles we wear too is a circle.

Hey... The ball we play is also a circle.

children! Now we know

What is a circle is !

A DREAM WITH IN A DREAM

Take this kiss upon the brow!

and, in parting from you now,

Thus much let me avow-

You are not wrong, Who deem

That my days have been a dream;

Yet if hope has flown away

In a night or in a day

in a vision or in none

Is it therefore the less gone?

All that we see or seem

Is but a dream within a dream.

I stand amid the roar,

of a surf-tormented shore,

And I hold with in my hand

Grains of the golden sand

How few! yet how they creep 

Through my fingers to the deep,

While I weep -while I weep

O God! can I not save

On from the pitiless wave?

Is all that we see or seem 

But a dream within a dream?

.................................................continue

             LEARNING BY MIRANDA JACOBS

A mother strives to deal with the limitations of her ability to console her child.

My son, John, embattled in virtual warfare, finds his spaceship commandeered by a rival. Such a manoeuvre strikes him as odd given the framework of a game geared to skill and ability rather than attack, aggression.

"Damn!" he says, "i was enjoying this match.Now i will have to shut down, and then start over"

From outside, winter winds claw the warmth of the room via a recent crack in a windowpane. placing pinewood log on our life, "Are you there is nothing more you might try?" I ask all but certain there is not, but saddened to see him looks so forlorn. He shakes his head.

sitting back down at my desk , i resume work on my P.H.D dissertation on child development.

John re-boots his system. it seems Ok.

But then he absorbs the fact, by degrees, that someone has sent a viruses. desrtoyed the computer for which he had saved up for nearly a year. Worse, this vandal has to have been one of the players, perhaps even infiltrating the game for the chance to demolish.

As John sits baffled, bewildered, i sense questions he feels too awkward to ask:

Why would someone will have never met to me harm? whats the reason for this cruelty?

in my own mind i can only respond that throughout the history of human thought, there has been no definitive answer.

I ache to rush over, hug him and say, dad and i will buy you a better PC. Then go make some hot cocoa.

still, nothing i can promise or bring can erase the misery of this betrayal.

John is  a boy, a young man i should say, who one day last week came home from school drenched, shivering, ice formaing in his hair. frost on his eyebrows...........(continue)

 

BREAKING DOWN THE BREAKDOWN

Alerts about a medical equipments possible failure could be a game changer.

In the current health care context,after-sales plays a vital role while buying any large medical equipments.it is the biggest influencer for a clinician while deciding toinvest on equipment. For any health care provider,turning away patients is undesirable and one of the causes of this situation is machine breakdown.This is especially cricitical in high-end machines like a CT scanner,MRI system,cath lab or a laboratory automation system. 

   How quickly a machine can be up and running was a concern of the past. Todays question is how well in advance would a clinician know about the problem with his system. The sheer possibility of getting a pre-alert of a fault is a game changer.This is digitalisation i service.

 Remote access has become parts of todays connected world. It is used reactively as well as proactively.In the reactive mode, it is used to fix problems when the customer reports an issue.

In the proactive mode, the equipment kepps relaying deviation in performance to the server, which is monitored by technical experts of the equipment company.

YOGA

STABLE SUPPORT

The shoulder girdle and the hip girdle form the two basic supports for the trunk.the shoulder blades give mobility to the upper extremities and a host of muscles are involved in making this possible.Here is a technique,using the stability ball, to maintain the stability of the shoulder blades.The upper back and lower back and lower back also benefit from exercise:

METHODS:

• FIRST,SIT ON YOUR HEELS IN FRONT OF THE BALL
• KNEEL,LEAN FORWARD AND REST THE ELBOWS ON THE BALL.
• PRESS THE BALL WITH THE FOREARMS.
• FOLD THE TOES,ROLL THE BALL FORWARD AND STRAIGHTEN THE LEGS.
• ENSURE THAT THE TRUNK IS PARALLEL TO THE FLOOR.
• FOOT SHOULD BE PERPENDICULAR FROM THE BASE OF THE HEEL,AND LEGS STRAIGHT.
• PRESS THE FOREARMS ON THE BALL AND STABILISE THE POSTURE.
• THE POSTURE CAN BE MADE LESS DIFFICULT BY INCREASING THE DISTANCE BETWEEN FEET.
• AS YOU INHALE,EXPAND THE ABDOMEN AND AS YOU EXHALE,CONTRACT THE ABDOMINAL MUSCLES.
• STAY FOR ABOUT 20-30 SECONDS WITH SLOW BREATHING.
• 
  

THE CURIOUS CASE OF HYPERTENSION

I woke up the other day to the major newspapers breaking the results of a new study that showed more intensive blood pressure treatment to less than 120 systolic reduced the rate of heart heart attacks by 30 per cent and mortality by 25 percent. I was a little peeved that i had to read the information in the paper, before the entire study was published and secondly because of the barrage of phone calls that the articles would generate.

          If you are planning to call your doctor,let me save you a call.The detailed study results will only be released in a few months. So no new recommendations will be made till we dissect the study  and the price the patients paid with regard to side effects to achieve  this new goal.While we are talking about medical information in the papers,I will let you in on little secret in the medical data world.The risk reduction that you read about is what we call relative risk reduction. say a group receiving a treatment has a rate of heart attacks of 20 per cent. you would assume that the risk reduction is 4 per cent. That is the absolute risk and not what is reported. The relative risk in this case is 20 per cent and that is what is reported in the media.The relative risk in a rough calculation is 16/20, which is 0.8, the remaining.20 translates into the relative risk reduction.. 

YOGA MADE EASY

The shoulder complex make many movements possible.One of these is flexion.Three factors come into play in imparting this movement: degree of flexion,intensity and load. These give a good stretch for the arms, shoulders complex and upper chest. The posture also relieves stiffness in the neck.

NOTE: these postures must be practiced in a graded way. Those who have a history of shoulder dislocation must consult your doctor before practicing these postures. The facilitator should have a good idea about the practitioners abilities and limitations.

METHOD

• practioner: Lie prone on a yoga mat
• Strech arms forward
• stay for about 30 seconds with slow deep breathing
• Gently lower the belt

IN SUPPORT OF LIFE 

With noninvasive ventilation, a critical care patient can how breathe easy without having a tube put into his lungs. It is,however, recommended only for select patients. Newer biomarkers can tell whether a person has an active infection or not so that antibiotics can be stopped in cases where they are not required.Here are a few major advancements in critical care.

Therapeutic hypothermia  

      Therapeutic hypothermia or targeted temperature management refers to deliberate reduction of core body temperature, typically to a range of about 32 to 34 degrees Celsius for 24 hours in patients who do not regain consciousness after return of spontaneous circulation following cardiac arrest. The technique is used to protect the brain from further damage.

Infection control in hospitals 

Every year,lives are lost because of the spread of infections in hospitals.Nowadays, every hospital has a dedicated infection control nurse and committee to monitor incidence of infections in the hospitals and take steps to minimise occurrence.proper hand-washing is the most effective way to prevent the spread of infections in hospitals.

Endobronchial ultrasound 

In this, the physician performs a procedure called transbronchial needle aspiration to obtain tisue or fluid samples from the lungs and surrounding lymph nodes without conventional surgery. The sample can be used for diadnosing and staging lung cancer, detection infection and identifying inflammatory diseases that affec the lungs.

PAN CT scan and MRI brain screening

Most hospitals nowadays do head to thigh CT scan which takes hardly 15 minutes in seriously injured patients.The test helps in detecting injuries and their severity so that the doctor can prioritise lifesaving treatment. MRI brain screening again, in about 15 minutes, helps identify and rule out major stroke and infection in the brain.

• MATHEMATICS

1. Mrs. Rodger got a weekly raise of $145. If she gets paid every other week, write an integer describing how the raise will affect her paycheck.

Solution:

Let the 1st paycheck be x (integer).

Mrs. Rodger got a weekly raise of $ 145.

So after completing the 1st week she will get $ (x+145).

Similarly after completing the 2nd week she will get $ (x + 145) + $ 145.

= $ (x + 145 + 145)

= $ (x + 290)

So in this way end of every week her salary will increase by $ 145.

2. The value of x + x(x^x) when x = 2 is:

(a) 10, (b) 16, (c) 18, (d) 36, (e) 64

Solution:

x + x(x^x)

Put the value of x = 2 in the above expression we get,

2 + 2(2²)

= 2 + 2(2 × 2)

= 2 + 2(4)

= 2 + 8

= 10

Answer: (a)

3. Mr. Jones sold two pipes at $1.20 each. Based on the cost, his profit one was 20% and his loss on the other was 20%. On the sale of the pipes, he:

(a) broke even, (b) lost 4 cents, (c) gained 4 cents, (d) lost 10 cents, (e) gained 10 centsSolution:

20 % profit on $ 1.20

= $ 20/100 × 1.20

= $ 0.20 × 1.20

= $ 0.24

Similarly, 20 % loss on $ 1.20

= $ 20/100 × 1.20

= $ 0.20 × 1.20

= $ 0.24

Therefore, in one pipe his profit is $ 0.24 and in the other pipe his loss is $ 0.24.

Since both profit and loss amount is same so, it’s broke even.

Answer: (a)

4. The distance light travels in one year is approximately 5,870,000,000,000 miles. The distance light travels in 100 years is:

(a) 587 × 10⁸ miles, (b) 587 × 10¹⁰ miles, (c) 587 × 10^-10 miles, (d) 587 × 10¹²miles, (e) 587 × 10^-12 miles

Solution:

The distance of the light travels in 100 years is: 

5,870,000,000,000 × 100 miles.

= 587,000,000,000,000 miles.

= 587 × 10¹² miles.

Answer: (d)

5. A man has $ 10,000 to invest. He invests $ 4000 at 5 % and $ 3500 at 4 %. In order to have a yearly income of $ 500, he must invest the remainder at:

(a) 6 % , (b) 6.1 %, (c) 6.2 %, (d) 6.3 %, (e) 6.4 %

Solution:

Income from $ 4000 at 5 % in one year = $ 4000 of 5 %.

= $ 4000 × 5/100.

= $ 4000 × 0.05.

= $ 200.

Income from $ 3500 at 4 % in one year = $ 3500 of 4 %.

= $ 3500 × 4/100.

= $ 3500 × 0.04.

= $ 140.

Total income from 4000 at 5 % and 3500 at 4 % = $ 200 + $ 140 = $ 340.

Remaining income amount in order to have a yearly income of $ 500 = $ 500 - $ 340.

= $ 160.

Total invested amount = $ 4000 + $ 3500 = $7500.

Remaining invest amount = $ 10000 - $ 7500 = $ 2500.

We know that, Interest = Principal × Rate × Time

Interest = $ 160,

Principal = $ 2500,

Rate = r [we need to find the value of r],

Time = 1 year.

160 = 2500 × r × 1.

160 = 2500r

160/2500 = 2500r/2500 [divide both sides by 2500]

0.064 = r

r = 0.064

Change it to a percent by moving the decimal to the right two places r = 6.4 %

Therefore, he invested the remaining amount $ 2500 at 6.4 % in order to get $ 500 income every year.

Answer: (e)



6. Jones covered a distance of 50 miles on his first trip. On a later trip he traveled 300 miles while going three times as fast. His new time compared with the old time was:

(a) three times as much, (b) twice as much, (c) the same, (d) half as much, (e) a third as much

Solution:

Let speed of the 1st trip x miles / hr. and speed of the 2nd trip 3x / hr.

We know that

Speed = Distance/Time.

Or, Time = Distance/Speed.

So, times taken to covered a distance of 50 miles on his first trip = 50/x hr.

And times taken to covered a distance of 300 miles on his later trip = 300/3x hr.

= 100/x hr.

So we can clearly see that his new time compared with the old time was: twice as much.

Answer: (b)

7. If (0.2)^x = 2 and log 2 = 0.3010, then the value of x to the nearest tenth is:

(a) -10.0, (b) -0.5, (c) -0.4, (d) -0.2, (e) 10.0

Solution:

(0.2)^x = 2.

Taking log on both sides 

log (0.2)^x = log 2.

x log (0.2) = 0.3010, [since log 2 = 0.3010].

x log (²/₁₀) = 0.3010.

x [log 2 - log 10] = 0.3010.

x [log 2 - 1] = 0.3010,[since log 10=1].

x [0.3010 -1] = 0.3010, [since log 2 = 0.3010].

x[-0.699] = 0.3010.

x = ^0.3010/_-0.699.

x = -0.4306….

x = -0.4 (nearest tenth)

Answer: (c)



8. If 10^2y = 25, then 10^-y equals:

(a) ^-1/₅, (b) ¹/₆₂₅, (c) ¹/₅₀, (d) ¹/₂₅, (e) ¹/₅

Solution:

10^2y = 25

(10^y)² = 5²

10^y = 5

¹/_10^y = ¹/₅ 

10^-y = ¹/₅

Answer: (e)

കുടുംബങ്ങള്‍ക്ക് പ്രിയങ്കരമായി 'ജോ ആന്‍ഡ് ദി ബോയ്‌'. 

smile emoticon heart emoticon

മങ്കി പെന്‍ എന്ന വിജയ ചിത്രത്തിന് ശേഷം അതിന്‍റെ ക്രിയേറ്റീവ് ടീം വീണ്ടും ഒന്നിക്കുമ്പോള്‍ കുട്ടികള്‍ക്കും കുടുംബങ്ങള്‍ക്കും പ്രിയങ്കരമായൊരു ഫീല്‍ ഗുഡ് സിനിമയില്‍ കുറഞ്ഞൊന്നും ആരും പ്രതീക്ഷിക്കില്ല. സന്തോഷവും വൈകാരിക മുഹൂര്‍ത്തങ്ങളും നല്ല സന്ദേശങ്ങളും ചേര്‍ന്ന മികച്ചൊരു കഥയാണ് സംവിധായകന്‍ റോജിന്‍ ഈ ചിത്രത്തില്‍ കൂടി പറഞ്ഞിരിക്കുന്നത്. കഥാഗതിയ്ക്ക് അനുയോജ്യമായ ലോക്കെഷനുകളും , പ്രേക്ഷകര്‍ കണ്ടിരിക്കാന്‍ ഇഷ്ടപ്പെടുന്ന വിഷ്വലുകളും, അതിനോട് ഇഴ ചേര്‍ന്നിരിക്കുന്ന ഗാനങ്ങളും , പുതുമ ഉണര്‍ത്തുന്ന പല Concept-കളും , അവയ്ക്ക് ജീവന്‍ നല്‍കിയിരിക്കുന്ന കലാ സംവിധാന മികവും ചിത്രത്തില്‍ എടുത്തു പറയേണ്ട ഘടകങ്ങളാണ്. നമ്മുടെ പ്രതിസന്ധികളെ തരണം ചെയ്തു കൊണ്ട് സ്വപ്നം കാണുന്ന കാര്യങ്ങള്‍ പ്രാപ്തമാക്കുക എന്ന സന്ദേശം നല്‍കുന്ന ചിത്രത്തില്‍ , നമ്മുടെ ടെക്നികള്‍ - ബെഡ്ജറ്റ് ലിമിറ്റേഷന്‍സിനെ മാറി കടക്കുന്ന രീതിയിലുള്ള അനിമേഷന്‍ കാഴ്ചകള്‍ രണ്ടാം പകുതിയില്‍ കാണാന്‍ സാധിക്കുന്നുണ്ട്. കുട്ടികള്‍ അടങ്ങുന്ന കുടുംബ പ്രേക്ഷകര്‍ക്ക് രസിക്കാന്‍ ഉള്ള വകുപ്പാണ് സംവിധായകന്‍ അതിലൂടെ പറഞ്ഞിരിക്കുന്നത്. വളരെ യംഗ് ആയ മഞ്ജു വാര്യരെയും, അവരോടൊപ്പം തന്നെ കിട പിടിച്ചു നില്‍ക്കുന്ന എനര്‍ജിയുമായി മാസ്റ്റര്‍ സനൂപ് സന്തോഷിനെയും മറ്റു അഭിനേതാക്കളെയും ചിത്രത്തില്‍ കാണാന്‍ സാധിക്കും.

ആകെ മൊത്തത്തില്‍ ഈ ക്രിസ്മസ് - ന്യൂ ഇയര്‍ അവധി കാലത്ത് കുടുംബത്തോടൊപ്പം ചിരിക്കാനും സന്തോഷിക്കാനും നിങ്ങള്‍ ഇഷ്ടപ്പെടുന്നുണ്ടേങ്കില്‍ തീര്‍ച്ചയായും 'ജോ ആന്‍ഡ് ദി ബോയ്‌' കാണുക !!smile emoticon smile emoticon