Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A and B were partners in a firm sharing profits in the ratio of 7 : 3. On 1-3-2024, they admitted C as a new partner for 1/6th share in the profits of the firm. They fixed the new profit sharing ratio as 3 : 2 : 1 1.82K viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Khushi and Sukhi are partners in a firm sharing profits in the ratio of 5 : 4. On April 1, 2024, they admit Muskan as a new partner and the new ratio is agreed at 3 : 2 : 1 1.83K viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B were in partnership sharing profits and losses in the ratio of 3 : 1. On 1st April, 2024 they admit C as a partner on the following terms: (a) That C brings ₹ 1,00,000 as his capital and ₹ 50,000 for goodwill, half of which to be withdrawn by A and B 2.40K viewsAnurag Pathak Changed status to publish August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Ayushi and Shrishti are partners sharing profits in 3 : 2. Their Balance Sheet showed Stock at ₹ 3,10,000; Machinery at ₹ 4,95,000; Debtors at ₹ 6,00,000; Creditors at ₹ 3,47,000. They admit Tina as a partner and new profit sharing ratio is agreed at 4 : 3 : 2 1.80K viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Pass journal entries to record the following transactions on the admission of a new partner: Land and Building is undervalued by ₹ 2,00,000 1.77K viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in the ratio of 2 : 2 : 1. They admitted D for 1/6th share in the profits. The new profit sharing ratio will be 13 : 8 : 4 : 5 respectively. D brought ₹ 5,00,000 for his capital and ₹ 60,000 for his share of goodwill 1.73K viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans X and Y are partners sharing profits in the ratio of 3 : 1. Z is admitted as a partner for which he pays ₹ 30,000 for goodwill in cash. X, Y and Z decided to share future profits in equal proportion 1.86K viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits in the ratio of 3 : 1. C is admitted as a partner with 2/9th share; A and B will in future get 4/9th and 3/9th share of profits. C pays ₹ 2,00,000 for goodwill. Pass the necessary journal entries 1.78K viewsAnurag Pathak Answered question August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits in the ratio of 3 : 2. They admit C into the firm for 3/7th profits (which he takes 2/7th from A and 1/7th from B) and brings ₹ 6,00,000 as premium out of his share of ₹ 7,20,000 1.69K viewsAnurag Pathak Answered question August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans X and Y are partners sharing profits in the ratio of 3 : 2. Goodwill appears in their balance sheet at ₹ 60,000. Z is admitted as a partner for 1/4th share in the profits. The total goodwill of the firm is valued at ₹ 2,00,000 2.08K viewsAnurag Pathak Answered question August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans P, Q and R share profits in the ratio of 5 : 3 : 2. S was admitted into partnership. S brings in ₹ 30,000 as his capital. S is entitled for 1/5th share in profits which he acquires equally from P, Q and R. Goodwill of the firm is to be valued at three year’s purchase of last four years’ average profits 2.02K viewsAnurag Pathak Changed status to publish August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits in the ratio of 3 : 2. On 1st April, 2022 they admit C as a new partner for 1/4th share. C acquires 1/5th of his share from A 2.50K viewsAnurag Pathak Changed status to publish August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Aru and Beena are partners in a firm sharing profits in the ratio of 2 : 1. They admit Charu and Diya as two new partners. The new profit sharing ratio is agreed at 4 : 3 : 2 :1. Charu introduced ₹ 5,00,000 and Diya ₹ 3,00,000 as their capitals 1.90K viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. They admit C into partnership with 1/4th share which he acquires from A and B in the ratio of 2 : 1 2.00K viewsAnurag Pathak Changed status to publish August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits and losses in 3 : 2. They admit C into partnership for 1/5th share in the profits. C pays in cash ₹ 40,000 for his capital. Goodwill of the firm is valued at ₹ 25,000 but C is unable to bring his share of goodwill in cash 2.11K viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B carrying on business as partners used to share profits and losses thus; A 4/7ths and B 3/7ths, and goodwill appeared in the books of the firm at ₹ 2,80,000 when C was admitted as a partner having 1/7th share in profits and losses 1.68K viewsAnurag Pathak Changed status to publish August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans P and S are partners sharing profits in the ratio of 3 : 2. Their books showed goodwill at ₹ 20,000, R is admitted with 1/5th share which he acquires equally from P and S. R brings ₹ 20,000 as his capital and ₹ 10,000 as his share of goodwill 1.93K viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners, sharing profit and losses in the ratio of 3 : 2. Goodwill appears in their Balance Sheet at ₹ 24,000, When C is admitted into partnership for 1/5th share in profit. He pays ₹ 50,000 for capital and ₹ 8,000 as goodwill 1.67K viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Ram and Rahim are partners in a firm sharing profits in the ratio of 3 : 2. On April 1, 2023 they admit Raj as a new partner for 3/13th share in the profits. The new ratio will be 5 : 5 : 3 1.85K viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans P and Q are partners sharing profits and losses as 2 : 3. R and S are admitted and profit sharing ratio becomes 3 : 4 : 3 : 2. Goodwill is valued at ₹ 3,00,000, R brings required goodwill and ₹ 2,00,000 cash for Capital 2.26K viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits and losses as 2 : 1. On 1st April, 2021 they admit C as a partner for 1/4th share who pays ₹ 4,50,000 as goodwill privately. On 1st April, 2022, they take D as a partner for 3/5th share who brings ₹ 4,00,000 as goodwill 1.95K viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1. They admit D for 1/4th share in the profits and he brought in ₹ 1,50,000 as his share of goodwill which was credited to the Capital Accounts of B and C respectively with ₹ 1,25,000 and ₹ 25,000 1.85K viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner 0 Votes 1 Ans X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership, Z paying a premium of ₹ 1,00,000 for 1/4th share of the profits while X and Y as between themselves sharing profits and losses equally. Give Journal entries 1.95K viewsAnurag Pathak Answered question August 23, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Partners A, B and C share the profit of a business in the ratio of 3 : 2 : 1 respectively. For one-sixth share they admit D who brings in ₹ 2,00,000 including ₹ 60,000 for his share of goodwill 1.96K viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A B and C are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted D as a new partner, who brings ₹ 5,00,000 as capital and ₹ 2,10,000 as his share of goodwill in cash 2.08K viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner « Previous 1 2 … 26 27 28 29 30 … 176 177 Next » Question and answer is powered by anspress.net
