On 31st March 2017, the Balance Sheet of Abhir and Divya, who were sharing profits in the ratio of 3 : 1 was as follows:
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Balance Sheet of Madhu and Vidhi who are sharing profits in the ratio of 2 : 3 as at 31st March, 2016 is given below:
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Given below is the Balance Sheet of A and B on 31st March, 2023, who are carrying on partnership business. A and B share profits and losses in the ratio of 2 : 1.
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Balance Sheet of J and K who share profits in the ratio of 3 : 2 is as follows:
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A and B are carrying on business in partnership and sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 stood as:
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Following was the Balance Sheet of A and B who were sharing profits in the ratio of 2 : 1 as at 31st March, 2023:
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X, Y and Z are equal partners with capitals of ₹ 15,000; ₹ 17,500 and ₹ 20,000 respectively. They agree to admit W into equal partnership upon payment in cash ₹ 15,000 for 1/4th share of the goodwill and ₹ 18,000 as his capital, both sums to remain in the business. The liabilities of the old firm were ₹ 30,000 and the assets, apart from cash, consist of Motors ₹ 12,000, Furniture ₹ 4,000, Stock ₹ 26,500 and Debtors ₹ 37,800. The Motors and Furniture were revalued at ₹ 9,500 and ₹ 3,800 respectively. Pass Journal entries to give effect to the above arrangement and also show Balance Sheet of the new firm.
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Vimal and Nirmal are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admit Kailash into the firm on 1st April 2023, when their Balance Sheet was as follows:
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Amit and Anil are partners sharing profits and losses in the ratio of 2 : 1. Their Balance Sheet as on 31st March, 2023 was as follows:
Solution:- The Balance sheet is just given for your knowledge. Note:- Here, the Student needs to write a note that as follows Ankit would compensate the old partners through his current Account. As, Question does not mention, how a new…
a) An extract of the Balance Sheet of Murari and Vohra sharing profits and losses in the ratio of 3 : 2 was as under:
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