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Category DK Goel Retirement of a partner

DK Goel Retirement of a partner 113 Questions

0 Votes 1 Ans

R, S and T were partners in a firm sharing profits in 2 : 2 : 1 ratio. On 1-4-2021 their Balance Sheet was as follows:

208 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

Lalit, Madhur and Neena were partners sharing profits as 50%, 30% and 20% respectively. On 31st March, 2021, their Balance Sheet was as follows:

165 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

A, B and C are partners sharing profits in 4 : 3 : 3. Their Balance Sheet as at 31st March 2020 was as follows:

193 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. On April 1st 2024, X retires from the firm, Y and Z agree that the capital of the new firm shall be fixed at ₹ 2,10,000 in the profit-sharing ratio

173 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

Ajay, Vijay and Sanjay are partners in a firm sharing profits and losses in the ratio of 5 : 4 : 3. Vijay retires. After making all adjustments relating to revolution, goodwill and accumulated profits

184 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

The Balance Sheet of X, Y and Z who were sharing profit in proportion of capitals is as follows: Sundry Creditors ₹ 7,000

230 viewsAnurag Pathak Changed status to publish April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

P, Q and R are partners in a firm. Q retires and his claim including his capital and his share of goodwill is ₹ 8,00,000. There was an unrecorded furniture valued at ₹ 60,000

180 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

Piu and Nina are partners in a firm sharing profits and losses in the ratio of 3 : 1 respectively. Nina retires and her claim, including her capital and entitlements

156 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

On 31st March, 2022 the Balance Sheet of M/s A, B and C sharing profits and losses in proportion to their fixed Capitals stood as follows:

207 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

A, B and C are in partnership sharing profits in the ratio of 3 : 2 : 1. On 28th February, 2023 C retires from the firm. Their Balance Sheet on this date was as follows:

158 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

X, Y and Z were partners in a firm sharing profits in 5 : 3 : 2 ratio. On 31st March, 2023 Z retired from the firm. On the date of Z’s retirement the Balance Sheet of the firm was as follows:

162 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

Following is the Balance Sheet of X, Y and Z as at 31st March, 2022. They share profits in the ratio of 3 : 3 : 2.

201 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

Sameer, Yasmin and Saloni were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 3. On 31.3.2016, their Balance Sheet was as follows:

182 viewsAnurag Pathak Changed status to publish April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

Anita, Gaurav and Sonu were partners in a firm sharing profits and losses in proportion to their capitals. Their Balance Sheet as at 31st March, 2019 was as follows:

184 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

Manoj, Naveen and Deepak were partners sharing profits and losses in the ratio of 4 : 3 : 2. As at 1st April 2022, their Balance Sheet was as follows:

179 viewsAnurag Pathak Changed status to publish April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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:

173 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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:

214 viewsAnurag Pathak Changed status to publish April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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

165 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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

187 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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:

160 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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

176 viewsAnurag Pathak Answered question April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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

170 viewsAnurag Pathak Changed status to publish April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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:

192 viewsAnurag Pathak Changed status to publish April 13, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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:

494 viewsAnurag Pathak Answered question February 26, 2025DK Goel Retirement of a partner

0 Votes 1 Ans

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

493 viewsAnurag Pathak Answered question February 26, 2025DK Goel Retirement of a partner

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