Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Amit and Viney are partners in a firm sharing profits and losses in 3 : 1 ratio. on 1.1.2017 they admitted Ranjan as a partner. on Ranjan’s admission the profit and loss account of Amit and Viney showed a debit balance of Rs. 40,000 240 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Leela and Meeta were partners in a firm sharing profits and losses in the ratio of 5 : 3. In April 2017 they admitted Om as a new partner. On the date of Om’s admission the balance sheet of Leela and Meeta showed a balance of Rs. 16,000 in general reserve and Rs. 24,000 (Cr) 223 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Given below is the Balance Sheet of A and B, who are carrying on partnership business on 31.12.2016. A and B share profits and losses in the ratio of 2 : 1 224 viewsAnurag Pathak Changed status to publish August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Amar and Akbar are equal partners in a firm. They admitted Anthony as a new partner and the new profit sharing ratio is 4 : 3 : 2. Anthony could not bring this share of goodwill Rs. 45,000 in cash 264 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Rajesh and Mukesh are equal partners in a firm. They admit Hari into partnership and the new profit sharing ratio between Rajesh, Mukesh and Hari is 4 : 3 : 2. On Hari’s admission goodwill of the firm is valued at Rs. 36,000 251 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Mohan Lal and Sohan Lal were partners in a firm sharing profits and losses in 3 : 2 ratio. They admitted Ram Lal for 1/4 share on 1.1.2013. It was agreed that goodwill of the firm will be valued at 3 years purchase of the average profits of last 4 years which were Rs. 50,000 for 2013, Rs. 60,000 for 2014, Rs. 90,000 for 2015 and Rs. 70,000 for 2016 228 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Amar and Samar were partners in a firm sharing profits and losses in 3 : 1 ratio. They admitted Kanwar for 1/4 share of profits. Kanwar could not bring his share of goodwill premium in cash 201 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Aditya and Balan are partners sharing profits and losses in 3 : 2 ratio. They admitted Christopher for 1/4 share in the profits. The new profit sharing ratio agreed was 2 : 1 : 1 229 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans X and Y are partners in a firm sharing profits and losses in 4 : 3 ratio. They admitted Z for 1/8 share. Z brought Rs. 20,000 for his capital and Rs. 7,000 for his 1/8 share of goodwill 254 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Arti and Bharti are partners in a firm sharing profits in 3 : 2 ratio. They admitted Sarthi for 1/4 share in the profits of the firm. Sarthi brings Rs. 50,000 for his capital and Rs. 10,000 for his 1/4 share of goodwill 232 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decide to admit C into partnership with 1/4 share in profits. C will bring in Rs. 30,000 for capital and the requisite amount of goodwill premium in cash 269 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Ghosh as a new partner for 1/5 share of profits. Ghosh is to bring in rs. 20,000 as capital and Rs. 4,000 as his share of goodwill premium 195 viewsAnurag Pathak Edited answer August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans A business has earned average profits of Rs. 1,00,000 during the last few years. Find out the value of goodwill by capitalisation method, given that the assets of the business are Rs. 10,00,000 and its external liabilities are Rs. 1,80,000 222 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Rajan and Rajani are partners in a firm. Their capitals were Rajan Rs. 3,00,000; Rajani Rs. 2,00,000. During the year 2015 the firm earned a profit of Rs. 1,50,000 204 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans The books of Ram and Bharat showed that the firm’s capital on 31. 12. 2016 was Rs. 5,00,000 and the profits for the last 5 years : 2015 Rs. 40,000; 2014 Rs. 50,000; 2013 Rs. 55,000; 2012 Rs. 70,000 and 2011 Rs. 85,000 213 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Firm’s Capital in a business is Rs. 2,00,000. The normal rate of return on firm’s capital is 15%. During the year 2015 the firm earned a profit of Rs. 48,000 192 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Compute the value of goodwill on the basis of four years purchase of the average profits based on the last five years? The profits for the last five years were as follows 219 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Rao and Swami are partners in a firm sharing profits and losses in 3 : 2 ratio. They admit Ravi as a new partner for 1/8 share in the profits. The new profit sharing ratio between Rao and Swami is 4 : 3 212 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Sandeep and Navdeep are partners in a firm sharing profits in 5 : 3 ratio. They admit C into the firm and the new profit sharing ratio was agreed at 4 : 2 : 1. Calculate the sacrificing ratio 216 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Singh, Gupta and Khan are partners in a firm sharing profits in 3 : 2 : 3 ratio. They admitted Jain as a new partner. Singh surrendered 1/3 of his share in favour of Jain 175 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans Radha and Rukmani are partners in a firm sharing profits in 3 : 2 ratio. They admitted Gopi as a new partner. Radha surrendered 1/3 of her share in favour of Gopi and Rukmani surrendered 1/4 of her share in favour of Gopi 166 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in 3 : 3 : 2 ratio. They admitted D as a new partner for 4/7 profit. D acquired his share 2/7 from A. 1/7 from B and 1/7 from C 162 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 0 Ans A and B were partners in a firm sharing profits in 3 : 2 ratio. They admitted C for 3/7 share which he took 2/7 from A and 1/7 from B. Calculate new profit sharing ratio? 149 viewsAnurag Pathak Changed status to publish August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans A, B and C are partners sharing profits in 3 : 2 : 2 ratio. They admitted D as a new partner for 1/5 share which he acquired from A, B and C in 2 : 2 : 1 ratio respectively. Calculate new profit sharing ratio? 155 viewsAnurag Pathak Answered question August 10, 2024[NCERT] Admission of Partner 0 Votes 1 Ans P and Q are partners sharing profits in 2 : 1 ratio. They admitted R into partnership giving him 1/5 share which he acquired from P and Q in 1 : 2 ratio. Calculate new profit sharing ratio? 154 viewsAnurag Pathak Answered question August 9, 2024[NCERT] Admission of Partner « Previous 1 2 … 11 12 13 14 15 … 159 160 Next » Question and answer is powered by anspress.net