Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Dev, Anil and Aman were partners sharing profits in the ratio of 2 : 1 : 1. Anil retired from the firm on 1st April, 2023 and Dev and Aman decided to share future profits equally. As on that date, goodwill of the firm was valued at ₹ 1,00,000. The amount of Goodwill that will be paid by Aman to the retiring partner will be 2.70K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Harish, Girish and Paresh were partners sharing profits in the ratio of 2 : 1 : 1. Paresh retired from the firm on 1st April, 2023 and Harish and Girish decided to share future profits equally. 2.80K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. C retired and his capital balance after adjustments regarding reserves, accumulated profits/losses and his share of gain on revaluation was ₹ 2,50,000. 3.63K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Retiring partner is compensated by the continuing partners in their 1.32K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners in the firm, sharing profits in the ratio of 2 : 2 : 1. Their Capital Accounts stand as ₹ 50,000, ₹ 50,000 and ₹ 25,000, respectively. 2.52K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profit and losses in the ratio of 2 : 2 : 1. B retired from the firm. At the time goodwill of the firm was valued at ₹ 30,000. What contribution has to be made by A and C to pay B? 1.64K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profits and losses in the ratio of 5 : 4 : 3. C retires and is credited for ₹ 9,000 as goodwill. How much will be debited to A in respect of goodwill adjustment? 2.75K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retires, if A and B take the share of retiring partner equally, new profit sharing ratio will be 3.14K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retired, and new profit sharing ratio is 3 : 2. Gaining Ratio will be 1.24K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A B and C are partners sharing profits 1.26K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Srishti, Nitya and Anand were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Srishti retired from the firm selling her share of profits to Nitya and Anand in the ratio of 2 : 1. The new profit sharing ratio between Nitya and Anand will be 4.22K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Amla, Bimla and Kavita were partners sharing profits and losses in the ratio of 4 : 3 : 1. Bimla retires and gives her share of profit to Amla for ₹ 3,600 and to Kavita for ₹ 3,000. The gaining ratio of Amla and Kavita will be: 2.65K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans On the retirement of Hari from the firm of Hari, Ram and Sharma, the Balance Sheet showed a debit balance of ₹ 12,000 in the Profit & Loss Account. For calculating the amount payable to Hari, this balance will be transferred 1.59K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Gaining Ratio is 1.37K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Amount credited to a retiring partner in his capital Account is ₹ 2,01,000. He took investments at ₹ 58,000. He also took 20% of the debtors. The amount transferred to his loan account is ₹ 1,23,000. What is the total value of the debtors? 3.21K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Amay, Bina and Chander are partners in a firm with capital balances of ₹ 50,00, ₹ 70,000 and ₹ 80,000 respectively on 31st March, 2022. Amay decides to retire from the firm on 31st March, 2022. 5.60K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of Mohan, stock is given as ₹ 60,000 in the Balance Sheet of the firm. If stock is undervalued by ₹ 10,000. the Journal entry passed for the above is: 3.03K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, loss on revaluation will be debited to the Capital Accounts of: 1.26K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, profit (gain) on revaluation will be credited to the capital accounts of 1.27K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Unrecorded assets at the time of retirement of a partner are 1.20K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, compensation paid to sacrificing partner as Goodwill is recorded by passing the following Journal entry: 1.67K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, Goodwill existing in the Balance Sheet is written off by passing the following Journal entry: 1.42K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Which of the following statement is correct? 1.39K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Sonu, Monu and Gopal are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. The extract of their Balance Sheet is as follows: 2.86K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Accumulated losses are: 1.31K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) « Previous 1 2 … 150 151 152 153 154 … 173 174 Next » Question and answer is powered by anspress.net
