Category [ISC] Admission of Partner [ISC] Admission of Partner 118 Questions Ask question Search Order By: ActiveClear Filter 0 Votes 1 Ans Veena and Soma are partners in a firm. They admit Sara on 1st April, 2022 for 1/4th share in the profits of the firm. On an average, the profits earned by Veena and Soma are ₹ 21,000 2.27K viewsAnurag Pathak Changed status to publish 3 days ago[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans X and Y are partners sharing profits/losses in the ratio of 3 : 2. Z is admitted for 1/4th share. X and Y decide to share equally 1.21K viewsAnurag Pathak Changed status to publish April 4, 2024[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Atul and Abhay are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Akash as a new partner for 1/4th share 822 viewsAnurag Pathak Changed status to publish April 1, 2024[ISC] Admission of Partner[ISC} TS Grewal Solutions 0 Votes 1 Ans Fateh, Vipin and Ishant are partners sharing profits and losses in the ratio of 3 : 2 : 1. Manoj is admitted 2.12K viewsAnurag Pathak Changed status to publish March 30, 2024[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Arup and Rama are partners in a firm sharing profits in 2 : 1. They admitted Santanu for 1/4th share in profits on 1st April 1.60K viewsAnurag Pathak Changed status to publish March 30, 2024[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Anubhav and Anurag are partners in a firm sharing profits and losses in the ratio of 5 : 3. On 31st March, 2023, their Balance Sheet was as follows: 1.63K viewsAnurag Pathak Changed status to publish March 18, 2024[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ashish and Akash are partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 was as under: 1.62K viewsAnurag Pathak Changed status to publish March 18, 2024[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Arsh and Daksh are partners in a firm with profit sharing ratio as follows: 1/2 to Arsh, 1/3 to Daksh and 1/6 carried to a Reserve. They admit Sachi as a partner on 1st April, 2023. The Balance Sheet of the firm as at 31st March, was as follows: 1.72K viewsAnurag Pathak Changed status to publish October 14, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Madan and Mohan are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, they admitted Chintu for 1/5th share in the profits of the firm, who contributes ₹ 2,50,000 as capital for 1/5th share. 1.16K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Leena and Rohit are in partnership sharing profits in the ratio of 3 : 2. They admit Manoj for 1/5th share in profits. Capitals of Leena and Rohit after adjustments are ₹ 60,000 and ₹ 40,000 respectively. Manoj’ is to bring 20% of total capital of the new firm. Calculate Manoj’s Capital. 818 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Abha and Binay are in partnership with respective capitals of ₹ 3,00,000 and ₹ 2,00,000. The admitted Chitra as a partner for 1/6th share in profits 676 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans If new partner has to bring proportionate capital which is not given, how is it determined? 466 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans State two effects of Accounting Standard – 26 (Intangible Assets) as issued by the Institute of Chartered Accountants of India on goodwill. 509 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Under what circumstances premium for goodwill paid by incoming partner would not be recorded in the books of account? 534 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans How is goodwill paid privately by an incoming partner treated in books of account? 462 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans What is Hidden Goodwill and how is it calculated? 779 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Explain the treatment of goodwill in the books of a firm on admission of a partner when godwill appears in the Balance Sheet. 443 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Joy and Deb were partners sharing profits and losses in the ratio of 2 : 1. They admitted Gopi into partnership for 1/5th share. 1.65K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Why are Reserves, Accumulated Profits and Losses not transferred to the incoming Partner’s Capital Account? 456 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Why is the General Reserve distributed among the old partners before a new partner is admitted? 500 viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 1 2 3 … 5 6 Next » Question and answer is powered by anspress.net