Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Abha and Binay are in partnership with respective capitals of ₹ 3,00,000 and ₹ 2,00,000. The admitted Chitra as a partner for 1/6th share in profits 1.13K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans If new partner has to bring proportionate capital which is not given, how is it determined? 983 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 effects of Accounting Standard – 26 (Intangible Assets) as issued by the Institute of Chartered Accountants of India on goodwill. 977 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 premium for goodwill paid by incoming partner would not be recorded in the books of account? 1.00K 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 goodwill paid privately by an incoming partner treated in books of account? 924 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 Hidden Goodwill and how is it calculated? 1.41K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Explain the treatment of goodwill in the books of a firm on admission of a partner when godwill appears in the Balance Sheet. 924 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Joy and Deb were partners sharing profits and losses in the ratio of 2 : 1. They admitted Gopi into partnership for 1/5th share. 2.95K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Why are Reserves, Accumulated Profits and Losses not transferred to the incoming Partner’s Capital Account? 908 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? 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 What is meant by accumulated profits and accumulated losses? 977 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? 1.09K 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. 1.17K 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? 1.01K 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? 931 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? 975 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? 974 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. 1.09K 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. 825 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. 1.04K 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? 843 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? 1.04K 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? 917 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. 874 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? 860 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th « Previous 1 2 … 142 143 144 145 146 … 169 170 Next » Question and answer is powered by anspress.net
