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Category [CBSE] Admission of Partner

[CBSE] Admission of Partner 141 Questions

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0 Votes 1 Ans

X and Y are partners sharing profits in the ratio of 2 : 1. Their Balance Sheet as at 31st March, 2023 was:

5.73K viewsAnurag Pathak Changed status to publish May 28, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Gautam and Yashica are partners in a firm, sharing profits and losses in 3 : 1 respectively. The Balance Sheet of the firm as on 31st March, 2018 was as follows:

6.98K viewsAnurag Pathak Changed status to publish May 28, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Badal and Bijli were partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2019 was as follows:

7.44K viewsAnurag Pathak Changed status to publish May 28, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

X and Y were partners in the profit-sharing ratio of 3 : 2. Their Balance Sheet as at 31st March, 2022 was as follows:

7.16K viewsAnurag Pathak Posted new comment March 17, 2024[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Atul and Amit are partners sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023.

4.78K viewsAnurag Pathak Changed status to publish May 27, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Sunaina and Tamanna are partners in a firm sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2020 stood as follows:

6.63K viewsAnurag Pathak Changed status to publish May 27, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Deepika and Rajshree are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, their Balance Sheet was:

6.85K viewsAnurag Pathak Changed status to publish May 27, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

A and B are partners in a firm. Net profit of the firm is divided as follows: 1/2 to A, 1/3 to B and 1/6 carried to a Reserve. They admit C as a partner on 1st April, 2023 on which date, the Balance Sheet of the firm was:

4.61K viewsAnurag Pathak Changed status to publish May 25, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Divya, Yasmin and Fatima are partners in a firm, sharing profits and losses in 11 : 7 : 2 respectively. The Balance Sheet of the firm on 31st March, 2018 was as follows:

5.22K viewsAnurag Pathak Changed status to publish May 25, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

On 31st March, 2019, the Balance Sheet of A and B, who were sharing profits in the ratio of 3 : 2 was as follows:

8.03K viewsAnurag Pathak Changed status to publish May 25, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

X and Y share profits in the ratio of 5 : 3. Their Balance Sheet as at 31st March, 2023 was:

5.07K viewsAnurag Pathak Changed status to publish May 25, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 is as follows:

5.58K viewsAnurag Pathak Changed status to publish May 25, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Balance Sheet of Madhu and Vidhi who are sharing profits in the ratio of 2 : 3 as at 31st March, 2016 is given below:

4.87K viewsAnurag Pathak Changed status to publish May 25, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

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.

5.58K viewsAnurag Pathak Changed status to publish May 25, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Balance Sheet of J and K who share profits in the ratio of 3 : 2 is as follows:

4.13K viewsAnurag Pathak Changed status to publish May 24, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

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:

4.95K viewsAnurag Pathak Changed status to publish May 23, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Following was the Balance Sheet of A and B who were sharing profits in the ratio of 2 : 1 as at 31st March, 2023:

5.74K viewsAnurag Pathak Changed status to publish May 23, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

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.

6.39K viewsAnurag Pathak Changed status to publish May 23, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

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:

7.24K viewsAnurag Pathak Changed status to publish May 23, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

a) An extract of the Balance Sheet of Murari and Vohra sharing profits and losses in the ratio of 3 : 2 was as under:

5.46K viewsAnurag Pathak Changed status to publish May 23, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

a) X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. They admit W as partner for 1/6th share, Following is the extract of the Balance Sheet on the date of admission:

2.79K viewsAnurag Pathak Changed status to publish May 23, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April 2023, they admit Z as a partner for 1/5th share in profits. On that date, there was a balance of ₹ 1,50,000 in General Reserve and a debit balance of ₹ 20,000 in the Profit & Loss Account of the firm. Pass necessary Journal entries regarding adjustment of reserve and accumulated profit/loss.

2.52K viewsAnurag Pathak Changed status to publish May 23, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Om and Shiv are partners ina firm sharing profits equally.

4.40K viewsAnurag Pathak Changed status to publish May 21, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

At the time of admission of a partner Suresh, assets and liabilities of Ramesh and Naresh were revalued as follows: a) A Provision for Doubtful Debts @ 10% was made on Sundry Debtors (Sundry Debtors ₹ 50,000). b) Creditors were written back by ₹ 5,000. c) Building was appreciated by 20% (Books value of Building ₹ 2,00,000). d) Unrecorded Investments were valued at ₹ 15,000. e) A provision of ₹ 2,000 was made for an Outstanding Bill for repairs. f) Unrecorded Liability towards suppliers was ₹ 3,000. Pass necessary Journal entries.

3.38K viewsAnurag Pathak Changed status to publish May 21, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Ashok and Bhaskar are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Chaman as a partner for 1/4th share of profits. At the time of admission of Chaman, Sundry Debtors and Provision for Doubtful Debts existed at ₹ 76,000 and ₹ 8,000 respectively. ₹ 6,000 of the debtors proved bad. A provision of 5% is to be created on Sundry Debtors for Doubtful debts. Pass the necessary Journal entries.

4.38K viewsAnurag Pathak Changed status to publish May 21, 2023[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

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