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
Solution:-
Commerce School
Student Community
Archives Answers
Answer
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:
Solution:-
On 1st April, 2023, a partnership firm had assets of ₹ 2,00,000 including cash of ₹ 6,000 and bank balance of ₹ 14,000
Solution:-
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.
Solution:-
Calculate Current Ratio from the following information Equity Share Capital 8,00,000 Inventories 1,00,000
Solution:-
Anu, Manu, Sonu and Rohan were partners in a firm sharing profits and losses in the ratio of 1 : 2 : 1 : 2. with effect from 1st April, 2023, they decided to share profits and losses in the ratio of 2 : 4 : 1 : 3
Solution:-
X, Y and Z are partners sharing profits equally. They decided that in future Z will get 1/5th share in profits. On the day of change, firm’s goodwill is valued at ₹ 30,000
Solution:-
Rohit and Hardik are partners sharing profits and losses equally. They decided to admit Surya as a partner for 1/3 share. For this purpose, the goodwill of the firm is to be valued
Solution:-
Amit and Kartik are partners sharing profits and losses equally. They decided to admit Saurabh for an equal share in the profits. For this purpose, the goodwill of the firm was to be valued at four years’ purchase of super profits
Solution:-
Sakshi and Megha were partners sharing profits and losses in the ratio of 3 : 1. Capital Employed as on 31st March, 2024 was ₹ 14,00,000
Solution:-