Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1. B died on 30th June, 2022, For the year ended 31st March, 2023, proportionate profits of 2022 is to be taken into consideration. 5.66K viewsAnurag Pathak Changed status to publish July 26, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans A, B and C were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. On 25th February 2019, B died, B’s share of profit till the date of his death was calculated at ₹ 5,000. Pass the necessary Journal entry for the same in the books of the firm. 5.44K viewsAnurag Pathak Changed status to publish July 26, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans Anil, Sunil and Hari were partners sharing profits equally. Suni died on 31st December 2022. In terms of the partnership deed, accounts were prepared for the period ended 31st December 2022 and net profit was determined at ₹ 6,00,000. Pass the Journal entry for the profit share of the partners. 6.45K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans Dinkar, Navita and Vani were partners sharing profits and losses in the ratio of 3 : 2 : 1. 7.16K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided in the partnership deed that on the death of any partner his share of goodwill is to be valued at one half of the net profit credited to his account during the last four completed years. 7.49K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans Keshav, Nirmal, and Pankaj are partners sharing profits in the ratio of 5 : 3 : 2. Pankaj died and his share is taken by Keshav. Calculate the new profit-sharing ratio of Keshav and Nirmal. 6.74K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y died and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio. 3.00K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans A, B and C were partners sharing profits in the ratio of 4 : 3 : 2. A died, B and C will share profits in the ratio of 2 : 1. Determine the gaining ratio. 5.86K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5 : 5 : 4. Mohan died and his share was taken equally by Shiv and Hari. 2.66K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans Om, Ram, and Shanti were partners sharing profits in the ratio of 1/2, 2/5, and 1/10. Find the new profit-sharing ratio of the remaining partners if Shanti dies. 6.17K viewsAnurag Pathak Changed status to publish July 25, 2023[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans Madan and Mohan are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, they admitted Chintu for 1/5th share in the profits of the firm, who contributes ₹ 2,50,000 as capital for 1/5th share. 3.88K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Leena and Rohit are in partnership sharing profits in the ratio of 3 : 2. They admit Manoj for 1/5th share in profits. Capitals of Leena and Rohit after adjustments are ₹ 60,000 and ₹ 40,000 respectively. Manoj’ is to bring 20% of total capital of the new firm. Calculate Manoj’s Capital. 3.15K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 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 2.72K 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? 2.63K 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. 2.59K 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? 2.81K 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? 2.74K 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? 3.25K 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. 2.78K 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. 5.05K 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? 2.60K 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? 2.91K 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? 2.55K 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? 2.65K 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. 3.08K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th « Previous 1 2 … 149 150 151 152 153 … 176 177 Next » Question and answer is powered by anspress.net
