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Category [ISC] Admission of Partner

[ISC] Admission of Partner 119 Questions

0 Votes 1 Ans

Bikash, Somen and Raj are partners sharing profits and losses in the ratio of 2 : 3 : 5. On 31st March, 2023, their Balance Sheet was as follows:

3.57K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Avijit and Binay are in partnership sharing profits and losses in the ratio of 3 : 2. The capitals of Avijit and Binay after adjustments are ₹ 2,40,000 and ₹ 1,80,000 respectively.

2.18K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Meet and Preet share profits in the proportion of 3/4th and 1/4th. Their Balance Sheet as at 31st March, 2023 was as follows:

2.76K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

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

1.56K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Kavita and Arpita are partners in a firm sharing profits and losses in the ratio of 3 : 2. Following is their Balance Sheet as at 31st March, 2023:

2.93K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Gaurav and Dinesh were carrying on business in partnership sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, their Balance Sheet stood as follows:

2.80K viewsAnurag Pathak Changed status to publish July 17, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Hemant and Hira are partners, sharing profits in the ratio of 3/5 : 2/5. They admit Hitashi as partner on 1st April, 2023. Their Balance Sheet as at 31st March, 2023 was as follows:

3.29K viewsAnurag Pathak Changed status to publish July 16, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Amit, Brajesh and Kant are partners sharing profits and losses in the ratio of 3 : 2 : 1. Hari is admitted as a new partner on 1st April, 2023 for 1/4th share and is to pay ₹ 2,50,000 as capital. Following is the Balance Sheet of the firm as at 31st March, 2023.

2.64K viewsAnurag Pathak Changed status to publish July 16, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Adin, Prabh and Inder are partners sharing profits and losses in the ratio of 2 : 2 : 1 respectively. Their Balance Sheet as at 31st March, 2023 is as given below:

3.11K viewsAnurag Pathak Changed status to publish July 16, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Kalpana and Kanika are partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 was as follows:

3.53K viewsAnurag Pathak Changed status to publish July 15, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Sushil and Girish are partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 was as follows:

3.18K viewsAnurag Pathak Changed status to publish July 13, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Bhavna and Daya sharing profits in the ratio of 3 : 2 had following Balance Sheet as at 31st March, 2023:

3.33K viewsAnurag Pathak Changed status to publish July 13, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Xavier and Yogesh are partners sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, their Balance Sheet was as follows:

3.89K viewsAnurag Pathak Changed status to publish July 13, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Gautam and Yashica were partners in a firm sharing profits in the ratio of 7 : 3. Their Balance Sheet as at 31st March, 2023 was as follows:

3.61K viewsAnurag Pathak Changed status to publish July 13, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Abram and Alia are partners in a firm sharing profits in the ratio of 60 : 40. Their Balance Sheet as at 31st March, 2023 was as follows:

3.14K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Pawan, Sharman and Karman are in partnership sharing profit and losses in the ratio of 6 : 3 : 1. They admit Arjun into partnership with effect from 1st April, 2023. New profit sharing ratio among the partners will be 3 : 3 : 3 : 1.

2.26K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Aamir, Salman and Ranbir were in partnership sharing profits and losses in the ratio of 6 : 3 : 1. Their fixed capitals as on 31st March, 2023 were: Aamir – ₹ 3,00,000, Salman – ₹ 1,50,000 and Ranbir – ₹ 50,000. They admit Irfan into partnership with effect from 1st April, 2023.

2.01K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Anuj, Karan and Arjun are partners sharing profits and losses in the ratio of 5 : 3 : 2. They admit Sahil as partner and share future profits and losses in the ratio of 3 : 3 : 3 : 1, with effect from 1st April, 2023. An extract of their Balance Sheet as at 31st March, 2023 is:

1.97K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Pronoy, Jagjit and Sachin are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admit Rajdeep as a partner and share future profits and losses equally with effect from 1st April, 2023. An extract of their Balance Sheet as at 31st March, 2023 is:

1.63K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Give the Journal entry to distribute ‘Investment Fluctuation Reserve’ of ₹ 24,000 at the time of admission of Manbir, when Investment (Market Value ₹ 1,10,000) exists at ₹ 1,20,000. The firm has two partners Sunil and Avdesh.

1.41K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Ben, Broad and Moin are partners sharing profit and losses in the ratio of 5 : 3 : 2. They admit Rashid for 1/6th share. Following items appear in the Balance Sheet on the date of admission:

1.65K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Shabir and Jiwan are partners in a firm sharing profits and losses in the ratio of 3 : 2. Joy was admitted for 1/3rd share in the profits.

1.53K viewsAnurag Pathak Changed status to publish July 12, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

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:

2.99K viewsAnurag Pathak Changed status to publish July 11, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Jannat and Mannat are partners in a firm. They share profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 was as under:

3.22K viewsAnurag Pathak Changed status to publish July 11, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

0 Votes 1 Ans

Anmol and Basu were partners sharing profits equally. Their Balance sheet as at 31st March, 2023 was as follows:

3.03K viewsAnurag Pathak Changed status to publish July 11, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions

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