ACCOUNTS HOLIDAY HOMEWORK, BY

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Across
  1. 1. Assets which physically exist but are not shown in the balance sheet are ___
  2. 4. Current accounts of the partners are opened when the capitals are _____
  3. 5. Average of the profit of the past agreed years is known as ____
  4. 6. Interest on capital is allowed only if the firm earns ____ during the year
  5. 10. Goodwil is an _____ asset
  6. 11. Capital invested in the firm's business is termed as _____
  7. 13. Workmen compensation reserve is a reserve created out of profit to meet the ___
  8. 14. Profit and loss account is prepared to find out____
  9. 15. The excess of actual / average profit over normal profit is known as ___
Down
  1. 2. In the absence of agreement of profits and losses are shared
  2. 3. The ratio in which all the partners share future profits and losses is knows as __
  3. 7. Change in the relationship among the partner is______of the partnership deed
  4. 8. Revaluation accounts is a __ account
  5. 9. Investments made in another enterprise for furtherance of own business are ___
  6. 12. Manager's commission is a _____ against profit