X, Y and Z are partners sharing profits and losses in the ratio of 3 : 2 : 1. Y retires selling his share to X and Z for ₹ 1,60,000, ₹ 1,00,000 being paid by X and ₹ 60,000 by Z
Solution:-
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A, B, C and D are partners sharing profits in the ratio of 4 : 3 : 2 : 1. On the retirement of B, Goodwill was valued at ₹ 3,00,000. A, C and D decide to continue the firm sharing profits equally
Solution:-
X, Y and Z were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Z retired and the new profit sharing ratio between X and Y was 1 : 2. On Z’s retirement the goodwill of the firm was valued at ₹ 30,000
Solution:-
A, B and C were partners sharing profits in the ratio of 6 : 4 : 5. Their capitals were A – ₹ 1,00,000, B – ₹ 80,000 and C – ₹ 60,000. On 1st April 2023, B retired from the firm and the new profit sharing ratio between A and C was decided as 11 : 4
Solution:-
Arjun, Bhim and Nakul are partners sharing profits and losses in the ratio of 14 : 5 : 6 respectively. Bhim retires and surrenders his 5/25th shares in favour of Arjun
Solution:-
A, B, C and D are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 : 1. A and C decided to retire from the firm. The goodwill of the firm was valued at ₹ 90,000. B and D decided to share future profits in the ratio of 5 : 3
Solution:-
P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided under the partnership deed that on the death of any partner his share of goodwill is to be valued at one-half of the net profits credited to his account during the last 4 completed years
Solution:- Case – (1) Case – (2) Working Notes:-
X and Y share profits in the ratio of 5 : 3. Their Balance Sheet as at 31st March, 2023 was:
Solution:-
A, B and C were partners in a firm. A died on 31st March, 2018 and the Balance Sheet of the firm on that date was as under:
Solution:- Working Notes:-
Following is the Balance Sheet of Meridian Ltd. as at 31st March 2022 and 31st March 2023 ou are required to prepare a Common Size Balance Sheet.
Solution:-