Category [ISC] Admission of Partner [ISC] Admission of Partner 120 Questions Ask question Search Order By: ActiveClear Filter 0 Votes 1 Ans Mahesh and Rajesh are partners sharing profits in the ratio of 2 : 1. Their Balance sheet as at 31st March, 2023 was as under: 6.53K viewsAnurag Pathak Changed status to publish 6 days ago[ISC] Admission of Partner[ISC} TS Grewal Solutions 0 Votes 1 Ans Karam and Rhea are partners for equal shares. They admit Paras as partner for 1/3 share. Goodwill, on admission is valued at 2,40,000 165 viewsAnurag Pathak Changed status to publish July 17, 2026[ISC] Admission of Partner 0 Votes 1 Ans Puneet and Tarun are partners sharing profits and losses in the ratio of 3 : 2. They admit Simran as a partner who acquires 2/7th from Puneet and 1/7th from Tarun as her share 4.40K viewsAnurag Pathak Answered question June 13, 2024[ISC] Admission of Partner 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 8.00K viewsAnurag Pathak Changed status to publish May 3, 2024[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 5.75K 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 4.64K 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 8.67K 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 7.31K 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: 5.57K 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: 6.91K 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: 5.60K 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. 5.14K 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. 4.10K 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 3.60K 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? 3.51K 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. 3.31K 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? 3.63K 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? 3.52K 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? 4.24K 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. 3.60K 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. 5.84K 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? 3.38K 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? 3.93K 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 meant by accumulated profits and accumulated losses? 3.26K 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 it necessary to revalue assets and liabilities of a firm in case of admission of a partner? 3.55K viewsAnurag Pathak Changed status to publish July 18, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 1 2 3 4 5 Next » Question and answer is powered by anspress.net
