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Category DK Goel Admission of a Partner

DK Goel Admission of a Partner 98 Questions

0 Votes 1 Ans

Aru and Beena are partners in a firm sharing profits in the ratio of 2 : 1. They admit Charu and Diya as two new partners. The new profit sharing ratio is agreed at 4 : 3 : 2 :1. Charu introduced ₹ 5,00,000 and Diya ₹ 3,00,000 as their capitals

396 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A, B and C were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. They admit C into partnership with 1/4th share which he acquires from A and B in the ratio of 2 : 1

275 viewsAnurag Pathak Changed status to publish August 26, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B are partners sharing profits and losses in 3 : 2. They admit C into partnership for 1/5th share in the profits. C pays in cash ₹ 40,000 for his capital. Goodwill of the firm is valued at ₹ 25,000 but C is unable to bring his share of goodwill in cash

305 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B carrying on business as partners used to share profits and losses thus; A 4/7ths and B 3/7ths, and goodwill appeared in the books of the firm at ₹ 2,80,000 when C was admitted as a partner having 1/7th share in profits and losses

221 viewsAnurag Pathak Changed status to publish August 26, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

P and S are partners sharing profits in the ratio of 3 : 2. Their books showed goodwill at ₹ 20,000, R is admitted with 1/5th share which he acquires equally from P and S. R brings ₹ 20,000 as his capital and ₹ 10,000 as his share of goodwill

265 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B are partners, sharing profit and losses in the ratio of 3 : 2. Goodwill appears in their Balance Sheet at ₹ 24,000, When C is admitted into partnership for 1/5th share in profit. He pays ₹ 50,000 for capital and ₹ 8,000 as goodwill

237 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

Ram and Rahim are partners in a firm sharing profits in the ratio of 3 : 2. On April 1, 2023 they admit Raj as a new partner for 3/13th share in the profits. The new ratio will be 5 : 5 : 3

251 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

P and Q are partners sharing profits and losses as 2 : 3. R and S are admitted and profit sharing ratio becomes 3 : 4 : 3 : 2. Goodwill is valued at ₹ 3,00,000, R brings required goodwill and ₹ 2,00,000 cash for Capital

276 viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B are partners sharing profits and losses as 2 : 1. On 1st April, 2021 they admit C as a partner for 1/4th share who pays ₹ 4,50,000 as goodwill privately. On 1st April, 2022, they take D as a partner for 3/5th share who brings ₹ 4,00,000 as goodwill

228 viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1. They admit D for 1/4th share in the profits and he brought in ₹ 1,50,000 as his share of goodwill which was credited to the Capital Accounts of B and C respectively with ₹ 1,25,000 and ₹ 25,000

223 viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership, Z paying a premium of ₹ 1,00,000 for 1/4th share of the profits while X and Y as between themselves sharing profits and losses equally. Give Journal entries

274 viewsAnurag Pathak Answered question August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

Partners A, B and C share the profit of a business in the ratio of 3 : 2 : 1 respectively. For one-sixth share they admit D who brings in ₹ 2,00,000 including ₹ 60,000 for his share of goodwill

222 viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A B and C are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted D as a new partner, who brings ₹ 5,00,000 as capital and ₹ 2,10,000 as his share of goodwill in cash

232 viewsAnurag Pathak Changed status to publish August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

X and Y share profits and losses in the ratio of 3 : 2. They admit Z as a partner who pays ₹ 72,000 as premium for goodwill for 1/4th share in the future profits of the firm

260 viewsAnurag Pathak Answered question August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

Anju and Manju are partners, sharing profits and losses in the proportion of 7 : 5. They agreed to admit Meenu, their manager, into partnership, who is to get one sixth share in the business

233 viewsAnurag Pathak Answered question August 23, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

K and Y were partners in a firm sharing profits in 3 : 2 ratio. They admitted Z as a new partner for 1/3rd share in the profits of the firm. Z acquired his share from K and Y in 2 : 3 ratio

305 viewsAnurag Pathak Edited answer August 22, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

X and Y are partners sharing profits in the ratio of 4 : 3. Z joins partnership for 2/7th share in the profits (of which he acquires 3/4th from X and 1/4th from Y). Z brings in ₹ 3,00,000 for his capital and ₹ 1,20,000 for goodwill

243 viewsAnurag Pathak Answered question August 22, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

P and Q are partners sharing profits and losses in the ratio of 2 : 1. They admit R into partnership for 4/9th share in profits which he acquires equally from P and Q. R brings in cash ₹ 2,50,000 as capital and ₹ 1,80,000 as goodwill

257 viewsAnurag Pathak Answered question August 22, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

L M and N are partners sharing profits in the ratio of 3 : 2 : 1. They admit O into partnership. O brings in cash ₹ 4,50,000 as capital and ₹ 1,50,000 as goodwill for 1/5th share of profits

341 viewsAnurag Pathak Answered question August 22, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

P, Q and R are partners sharing profits and losses in the ratio of 5 : 3 : 2. S is admitted as a new partner for 1/5th share. P sacrifices 1/10th from his share in favour of S and remaining sacrifice was made by Q and R in the ratio of 2 : 1

320 viewsAnurag Pathak Answered question August 21, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A B and C are partners sharing in the ratio of 4 : 3 : 2. They admit D for 1/9th share. It is agreed that A would retain his original share. Calculate the new ratios and sacrificing ratios

238 viewsAnurag Pathak Answered question August 21, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B are partners in a firm sharing profits in the ratio of 3 : 1. They admit C and decide that the profit-sharing ratio between B and C shall be same as existing between A and B. Calculate new profit-sharing ratio and the sacrificing ratio

450 viewsAnurag Pathak Answered question August 21, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B are partners sharing profits and losses in the ratio of 4 : 3. C is admitted for 1/5th share. A and B decided to share equally in future. Calculate the new ratio and sacrificing ratio

337 viewsAnurag Pathak Edited answer August 21, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admit C and D as new partners. A sacrifices 1/2 of his share in favour of C and B sacrifices 1/4 from his share in favour of D

286 viewsAnurag Pathak Answered question August 21, 2024DK Goel Admission of a Partner

0 Votes 1 Ans

A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. C is admitted into partnership. A sacrifices 1/3 of his share and B 1/10 from his share in favour of C. Determine the sacrificing ratio and the new profit sharing ratio

330 viewsAnurag Pathak Answered question August 21, 2024DK Goel Admission of a Partner

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