Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Dinesh, Ramesh and Suresh are partners in a firm sharing profits and losses in the ratio of 3 : 3 : 2. From 1st April, 2018 they decided to share the future profits equally 677 viewsAnurag Pathak Changed status to publish August 7, 2024Accountancy Class 12th 0 Votes 1 Ans The following is the balance sheet of a firm as at 31st March, 2023 Capitals Accounts A ₹ 4,00,000 B ₹ 4,00,000 C ₹ 3,00,000 D ₹ 3,00,000. 641 viewsAnurag Pathak Changed status to publish August 7, 2024Accountancy Class 12th 0 Votes 1 Ans X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. Their position as at 31st March 2023 was as follows: 752 viewsAnurag Pathak Changed status to publish August 7, 2024Accountancy Class 12th 0 Votes 1 Ans L, M and N were partners in a firm sharing profits in the ratio of 2 : 3 : 5. From 1st April, 2018 they decided to share the profits in the ratio of 1 : 2 : 2 727 viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in the ratio of 1 : 3 : 2. They decided that with effect from 1st April, 2024, they will share profits in the ratio of 4 : 6 : 5 635 viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans A and B have been carrying on business in partnership with fixed capitals of ₹ 2,40,000 and ₹ 1,20,000 respectively and sharing profits in the same proportion 554 viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans P, Q and R are partners sharing profits and losses in the ratio of 5 : 3 : 2. From 1st April, 2024, they decide to share profits and losses in equal proportions 757 viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans Charu and Dinesh have been sharing profits in the ratio of 3 : 1. The net profits for the past four years have been ₹ 60,000; ₹ 50,000; ₹ 90,000 and ₹ 1,20,000 respectively 595 viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans X, Y and Z are partners sharing profits in the ratio of 5 : 4 : 1. It is now agreed that they will share future profits in the ratio of 3 : 3 : 4. Goodwill is valued at ₹ 1,00,000 585 viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans The following information relates to a partnership firm: (a) Sundry Assets of the firm ₹ 6,80,000. Outside Liabilities ₹ 60,000. 553 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Average profit of the firm is ₹ 3,00,000. Total assets of the firm are ₹ 24,00,000 whereas Partner’s Capital is ₹ 20,00,000. If normal rate of return in a similar business is 12% of the capital employed 623 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans A partnership firm earned net profits during the last three years as follows: 2021 – 22 ₹ 1,90,000 2022 – 23 ₹ 2,20,000 669 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Yash and Karan were partners in an interior designer firm. Their fixed capitals were ₹ 6,00,000 and ₹ 4,00,000 respectively. There were credit balances in their current accounts of ₹ 4,00,000 and ₹ 5,00,000 respectively 788 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans An existing firm had assets of ₹ 4,00,000 including cash of ₹ 15,000. Its creditors amounted to ₹ 20,000 on that date. The partner’s capital accounts showed a balance of ₹ 3,00,000 and reserves amounted to ₹ 80,000 543 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans A firm earns a profit of ₹ 37,000 per year. In the same business a 10% return is generally expected. The total assets of the firm are ₹ 4,00,000. The value of outside liabilities is ₹ 90,000 629 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Calculate the value of goodwill at 2 year’s purchase of the average profits of the last 3 years. The profit for the first year was ₹ 50,000, for second year twice the profit of first year and for the third year one and half times the profit of the second year 627 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Calculate the value of goodwill as on 1st April, 2024, on the basis of 2 and 1/2 year’s purchase of the average profits of the last five years. The profits and losses for the years ending 31st March were: 2019 ₹ 80,000; 2020 ₹ 1,00,000; 2021 Loss ₹ 30,000; 2022 ₹ 1,70,000; 2023 ₹ 1,60,000 and 2024 ₹ 1,80,000 575 viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans The average profit earned by a firm is ₹ 75,000 which includes undervaluation of stock of ₹ 5,000 on an average basis. The capital invested in the business is ₹ 7,00,000 and the normal rate of return is 7% 705 viewsAnurag Pathak Answered question August 4, 2024Accountancy Class 12th 0 Votes 1 Ans Amit, Archit and Akshat are partners in a firm in the ratio of 3 : 2 : 1. On 1st April, 2023 they decided to share the profits in future in the ratio of 7 : 5 : 4. On this date General Reserve is ₹ 38,000 and profit on revaluation of assets and liabilities being ₹ 34,000 568 viewsAnurag Pathak Answered question August 4, 2024Accountancy Class 12th 0 Votes 1 Ans L, M and N are partners sharing profits and losses in equal proportion. On 31st March 2021, their balance sheet was as follows: 817 viewsAnurag Pathak Answered question August 4, 2024Accountancy Class 12th 0 Votes 1 Ans P, Q and R are in partnership sharing profits and losses in the ratio of 5 : 4 : 3. On 31st March 2023, their balance sheet was as follows: 727 viewsAnurag Pathak Edited answer August 2, 2024Accountancy Class 12th 0 Votes 1 Ans X and Y are partners sharing profits and losses in the ratio of 4 : 3. Their Balance Sheet as at 31st March, 2021 stood as follows: 790 viewsAnurag Pathak Edited answer August 2, 2024Accountancy Class 12th 0 Votes 1 Ans Aman, Bobby and Chandani were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1. From 1st April, 2018 they decided to share profits equally. The revaluation of assets and re-assessment of liabilities resulted in a loss of ₹ 5,000 1.21K viewsAnurag Pathak Answered question August 2, 2024Accountancy Class 12th 0 Votes 1 Ans Asha, Rina and Chahat were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2019 was as follows: 815 viewsAnurag Pathak Answered question August 2, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1. From 1st April, 2023 they decided to share future profits and losses equally. 947 viewsAnurag Pathak Answered question August 2, 2024Accountancy Class 12th « Previous 1 2 … 26 27 28 29 30 … 173 174 Next » Question and answer is powered by anspress.net
