Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Why are Reserves, Accumulated Profits and Losses not transferred to the incoming Partner’s Capital Account? 840 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Why is the General Reserve distributed among the old partners before a new partner is admitted? 953 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans What is meant by accumulated profits and accumulated losses? 916 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Why is it necessary to revalue assets and liabilities of a firm in case of admission of a partner? 1.02K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Why is Revaluation Account prepared? State any two reasons. 1.09K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans At what values, the assets and liabilities are shown in the books of reconstituted firm in case ‘Revaluation Account’ is prepared? 936 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans What is Revaluation Account? How is the balance of Revaluation Account dealt? 859 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans What is the meaning of the word ‘Revaluation’ in partnership account? 895 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Under what circumstances is there a need to revalue assets and reassess liabilities? 903 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Anurag and Bhawana entered into partnership on 1st April, 2022. They admitted Monika as a new partner for 3/10th share in the profit which she acquired equally from Anurag and Bhawana. 1.02K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Give the name of the compensation which is paid by a new partner to sacrificing partners for sacrificing their share of profits. 747 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Give two circumstances in which Sacrificing Ratio may be applied. 968 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans New profit sharing ratio is determined on admission of a partner. As a result of new partner acquiring the share from old partners, the shares of old partners are reduced. What is it known as and why is it important to determine it? 757 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Define Sacrificing Ratio. unless given other wise, what will be the ratio of sacrifice of the old partners in the case of admission of a new partner? 957 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans What is the New Profit sharing Ratio in case of admission of a partner? 854 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans State any two purposes for admitting a new partner in a firm. 811 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Why does a new partner bring premium for goodwill on his admission? 795 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans State two main rights that a newly admitted partner acquires in the firm. 832 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans What is meant by Change in Profit Sharing Ratio? State any two circumstances when there is a need to change the profit sharing ratio. 839 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans How is a partner admitted to a firm? 718 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans What is meant by Admission of a new partner 801 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Rajib and Sanjiv are in partnership sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as on 31st March, 2023 is as under: 3.36K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Amod and Subodh are partners sharing profits in the ratio of 3 : 2. They admit Pramod as a new partner from 1st April, 2023. They have decided to share future profits in the ratio of 4 : 3 : 3. The Balance Sheet as at 31st March, 2023 is given below: 3.46K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Neha and Tara are partners in a firm sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet on 31st March, 2012, stood as follows: 3.48K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Avinash and Varun are partners in a firm sharing profits and losses in the ratio of 3 : 1. On 1st April, 2023, their position was as given below: 2.82K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th « Previous 1 2 … 136 137 138 139 140 … 163 164 Next » Question and answer is powered by anspress.net
