The Balance Sheet of Sindhu, Rahul and Kamlesh, who were sharing profits in the ratio of 3 : 3 : 4 respectively, as at 31st March, 2023 was as follows:
Solution:-
Commerce School
Student Community
Archives Answers
Answer
A, B and C were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their books are closed on March 31st every year. B died on 1st August, 2022. The executors of B are entitled to:
Solution:-
A, B and C are sharing profits in the ratio of 4 : 3 : 2. A dies on 31st December, 2022. Accounts are closed on 31st March every year. Sales for the year ending 31st march, 2022 amounted to ₹ 4,00,000
Solution:-
Hari, Mohan and Sohan were partners in a firm sharing profits in 2 : 2 : 1 ratio. The firm closes its books on 31st March every year. Mohan died on 24-8-2021. On Mohan’s death the goodwill of the firm was valued at ₹ 75,000
Solution:-
A, B and C were partners in a firm. B died on 31st August, 2021. B’s share of profit from the closure of the last accounting year till the date of death was to be calculated on the basis of the average of three completed years of profits before death
Solution:-
X, Y and Z are partners sharing profits in the ratio of 4 : 2 : 3. Y retires. on this date his Capital after making adjustments for reserves and revaluation exists at ₹ 2,00,000
Solution:-
A, B and C were equal partners. Their Balance Sheet as at 31st March, 2022 was as under: B/P ₹ 20,000 Creditors ₹ 40,000
Solution:-
P, Q and R are in partnership sharing profits in the ratio of 3 : 2 : 1. R retires. Following balances appeared in their books:
Solution:-
A, B and C were partners sharing profits in the ratio of 3 : 2 : 1 respectively. B retired on 31st March, 2024. On that date the capitals of A, B and C after all adjustments were ₹ 5,10,000; ₹ 3,30,000 and ₹ 1,80,000 respectively.
Solution:-
Radha, Manas and Arnav were partners in a firm sharing profits and losses in the ratio of 3 : 1 : 1. Their Balance Sheet as at 31st March, 2019 was as follows:
Solution:-