Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits. C brought proportionate amount of capital. The capital brought in by C would be 3.28K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans For which of the following situations, old profit sharing ratio of partners is used at the time of admission of a new partner? 868 viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Increase in the value of liabilities at the time of admission of a partner is 951 viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Manav and Nath were partners sharing profits and losses in the ratio of 5 : 3. Narayan was admitted as a partner for 1/6th share in the profits. Narayan was unable to bring his share of goodwill premium in cash. The Journal entry recorded for goodwill premium is given below: 2.35K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Anita and Babita were partners sharing profits and losses in the ratio of 3 : 1. Savita was admitted for 1/4th share in the profits. Savita was unable to bring her share of goodwill premium in cash. The Journal entry recorded for goodwill premium is given below: 3.87K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Mita and Sumit are partners in a firm with capitals of ₹ 6,00,000 and ₹ 4,00,000 respectively. Keshav was admitted as a new partner for 1/5th share in the profits of the firm. Keshav brought ₹ 40,000 as his share of goodwill premium and ₹ 3,00,000 of his capital. The amount of goodwill premium credited to Sumit will be 3.18K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Mona and Tina were partners in a firm sharing profits in the ratio of 3 : 2. Naina was admitted with 1/6th share in the profits of the firm. At the time of admission, Workmen’s Compensation Reserve appeared in the Balance Sheet of the firm at ₹ 32,000. The claim on account of workmen’s compensation was determined at ₹ 40,000. Excess of claim over the reserve will be 3.42K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans When a new partner is admitted, the balance of ‘General Reserve’ appearing in the Balance sheet at the time of admission is credited to 1.17K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Niyati and Aisha were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted Bina as a new partner. Niyati sacrificed 1/4th from her share and Aisha sacrificed 1/7th from her share in favor of Bina. Bina’s share in the profits of the firm will be 4.19K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans A and B are partners sharing profits in the ratio of 2 : 3, they admit C as a partner for 1/4th share, the sacrificing ratio of A and B will be 1.13K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans When goodwill existing in the books is written off at the time of admission of a partner, it is transferred to partner’ Capital accounts in their 859 viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Goodwill brought by the incoming partner is distributed among the old partners in their 938 viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans X and Y are partners sharing profits in the ratio of 3 : 2, and capitals as ₹ 1,00,000 and ₹ 50,000 respectively. Z is admitted for 1/5th share in profits. The amount Z will contribute as capital will be 3.23K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans When goodwill existing in the books is written off at the time of admission of a partner, it is transferred to Partner’s Capital Accounts in their. 923 viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans X, Y and Z who are sharing profits and losses in the ratio of 5 : 3 : 2, decide to share future profits and losses in the ratio of 2 : 3 : 5 w.e.f. 1st April, 2023, after admission of A. An extract of the Balance Sheet as at 31st March 2023 is as follows: 1.37K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans A firm has an unrecorded investment of ₹ 10,000. Journal entry to record the unrecorded investment on admission of a partner will be: 1.48K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Unrecorded Assets or liabilities are transferred to 876 viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Aditya and Shiv were partners in a firm with capitals of ₹ 3,00,000 and ₹ 2,00,000, respectively. Naina was admitted as a new partner 1/4th share in the profits of the firm. Naina brought ₹ 1,20,000 for her share of goodwill premium and ₹ 2,40,000 for her capital. The amount of goodwill premium credited to Aditya will be 4.10K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans A and B are partners in the ratio of 3 : 2. C is admitted as a partner and he takes 1/4th of his share from A. B gives 3/16 from his share to C. What is the share of C. 4.90K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Shiv and Mohan are sharing profits and losses in the ratio of 5 : 3. They admit Jea as a partner and give her 3/10th share of the profits. This share she will get 1/5th from Shiv and 1/10th from Mohan. 3.42K viewsAnurag Pathak Changed status to publish June 1, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans X and Y are sharing profits and losses in the ratio of 3 : 2. They admit Z as a partner and give him 2/10th share in the profits. The new profit sharing ratio will be 2.32K viewsAnurag Pathak Changed status to publish May 30, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Accumulated Profits/losses are transferred to the Capital Accounts of old partners in 775 viewsAnurag Pathak Changed status to publish May 30, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans General Reserve at the time of admission of a partner is transferred to 852 viewsAnurag Pathak Changed status to publish May 30, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Sacrificing Ratio is 810 viewsAnurag Pathak Changed status to publish May 30, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans New Partner may be admitted to partnership. 783 viewsAnurag Pathak Changed status to publish May 30, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12th « Previous 1 2 … 143 144 145 146 147 … 161 162 Next » Question and answer is powered by anspress.net
