P, Q and R were partners in a firm sharing profits in the ratio of 2 : 3 : 5. On 31-3-2024 their Balance Sheet was as follows:
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X, Y and Z are partners in a firm sharing profits and losses equally. The balance Sheet of the firm as at 31st March, 2023 stood as follows:
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A, B and C are partners sharing profits in the ratio of 5 : 3 : 2. C retires and A and B agree to share future profits in the ratio of 6 : 4
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A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retires and new profit sharing ratio is agreed at 3 : 1
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A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1. A retries and the new ratio between B and C is agreed at 3 : 2. Give journal entries on A’s retirement in the following case:
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A, B, C and D are partners sharing profits in the ratio of 4 : 3 : 2 : 2. C retires and the remaining partners decided to share future profits in 5 : 3 : 2
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A, B, C and D are partners sharing profits in the ratio of 1 : 2 : 3 : 4. D retires and his share in taken up by A and B equally. Goodwill was valued at 3 year’s purchase of average profits which were ₹ 20,000
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A, B and C were partners sharing profits and losses in the ratio of 5 : 3 : 2. Following was their Balance Sheet as at 31st March, 2023:
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On 1st April, 2023, a partnership firm had assets of ₹ 2,00,000 including cash of ₹ 6,000 and bank balance of ₹ 14,000
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State, giving reason, whether the Current Ratio will improve or decline or will have no effect in each of the following transactions if Current Ratio is 2 : 1.
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