The Balance Sheet of Asha, Deepa and Lata who were sharing profits in the ratio of 5 : 3 : 2 as at 31st March, 2023 is as follows:
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Suraj, Pawan and Kamal are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 is:
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Sushil, Satish and Samir are partners sharing profits in the ratio of 5 : 3 : 2. Satish retires on 1st April, 2023 from the firm, on which date capitals of Sushil, Satish and Samir after all adjustments are ₹ 1,03,680, ₹ 87,840 and ₹ 26,880 respectively. The Cash and Bank Balance on that date was ₹ 9,600. Satish is to be paid through amount brought by Sushil and Samir in such a way as to make their capitals proportionate to their new profit sharing ratio which will be Sushil 3/5 and Samir 2/5. Calculate the amount to be paid or to be brought by the continuing partners if minimum Cash and Bank balance of ₹ 7,200 was to be maintained and pass the necessary Journal entries. [Ans.: Sushil and Samir will bring ₹ 25,920 and ₹ 59,520 respectively]
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Balance Sheet of X, Y and Z who shared profits in the ratio of 5 : 3 : 2, as on 31st March, 2023 was as follows:
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Lal, Bal and Pal are partners sharing profits in the ratio of 5 : 3 : 7. Lal retired from the firm. Bal and Pal decided to share future profits in the ratio of 2 : 3. The adjusted Capital Accounts of Bal and Pal showed balances of ₹ 49,500 and ₹ 1,05,750 respectively. The total amount to be paid to Lal is ₹ 1,35,750. This amount is to be paid by Bal and Pal in a manner that their capitals become proportionate to their new profit-sharing ratio. Calculate the amount to be brought or to be paid to partners. [Ans.: Bal brings ₹ 66,900 and Pal brings ₹ 68,850.]
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Following is the Balance sheet of Kusum, Sneh and Usha as on 31st March, 2023, who have agreed to share profits and losses in proportion of their capitals:
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N, S and B were partners in a firm sharing profits and losses in proportion of 1/2, 1/6 and 1/3 respectively. The Balance Sheet of the firm as at 31st March, 2017 was as follows:
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Amit, Balan and Chander were partners in a firm sharing profits in the proportion of 1/2, 1/3 and 1/6 respectively. Chander retired on 1st April, 2014. The Balance Sheet of the firm on the date of Chander’s retirement was as follows:
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X, Y and Z were in partnership sharing profits in proportion to their capitals. Their Balance Sheet as on 31st March, 2018 was as follows:
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On 31st March, 2023, the Balance Sheet of A, B and C who were sharing profits and losses in proportion to their capitals stood as:
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