Category [ISC] Admission of Partner [ISC] Admission of Partner 119 Questions Ask question Search Order By: ActiveClear Filter 0 Votes 1 Ans Divya and Neha are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit Angad into partnership for 1/5th share, Angad brings ₹ 30,000 as capital and ₹ 10,000 as goodwill. At the time of admission of Angad, goodwill exists in the Balance Sheet at ₹ 3,000. New Profit sharing ratio of the partners shall be 5 : 3 : 2. Pass the necessary entries. 2.86K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Rita and Nita are partners sharing profits and losses in the ratio of 2 : 5. They admit, Madhuri on the condition that she will bring ₹ 14,000 as her share of goodwill in cash. Madhuri’s share in future profits or losses will be 1/4th. What will be new profit sharing ratio and what amount of goodwill brought by Madhuri will be received by Rita and Nita? 2.30K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Bharat and Bhushan are partners in a firm sharing profits in the ratio of 2 : 1. On 1st April, 2023, their capitals are ₹ 2,00,000 and ₹ 1,00,000 respectively. On that date, they admitted Smriti as a partner for 1/5th share in profits. New profit sharing ratio of Bharat, Bhushan and Smriti will be 3 : 1 : 1. Smriti brought ₹ 80,000 as her capital and ₹ 30,000 as her share of premium for goodwill. Pass Journal entries and prepare Capital Accounts of all the Partners. 2.83K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Emmie and Florence are partners sharing profits and losses in the ratio of 4 : 1. Glen is admitted as a partner for which he pays ₹ 10,000 as premium for goodwill and in future Emmie, Florence and Glen decide to share profits and losses in the ratio of 2 : 1 : 1 respectively. Pass necessary Journal entries in the books of the firm. 2.77K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Piyush and Deepika are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit Seema as a partner for 1/5th share. Seema takes her share from Piyush and Deepika in the ratio of 2 : 3. Goodwill of the firm has been valued at ₹ 50,000. Seema paid ₹ 10,000 privately to Piyush and Deepika as her share of goodwill. What will be the Journal entry in the books of the firm? 1.66K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Pawan and Ajitesh are partners sharing profits in the ratio of 3 : 2. They admit Ridhima, a new partner who acquires 1/5th of her share from Pawan and 4/25th share from Ajitesh. Calculate New Profit sharing Ratio and Sacrificing Ratio. 2.80K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Gaurav and Anshul are partners sharing profits and losses in the ratio of 4 : 1. They admit Chhaya into partnership and decide that the profit sharing ratio between Anshul and Chhaya shall be same as between Gaurav and Anshul. Calculate new profit sharing ratio and the sacrificing ratio. 2.55K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Xena and Yana are partners in a firm. Zeesha is admitted as a new partner and the new profit sharing ratio among the three partners is decided at 1 : 2 : 2. The sacrificing ratio between Xena and Yana is 4 : 1. Calculate old profit sharing ratio. 2.78K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Anil, Apoorv, Pooja and Badal are in partnership sharing profits and losses in the ratio of 36 : 24 : 20 : 20 respectively. Babu joins the partnership for 20% share and Anil, Apporv, Pooja and Badal in future would share profits among themselves as 3/10 : 4/10 : 2/10 : 1/10. Calculate new profit sharing ratio after Babu’s admission. 2.37K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Avtar, Sahil and Satvir are partners sharing profits and losses in the ratio of 9 : 6 : 5. Vijay is admitted as a partner for 1/4th share in future profits and losses. Sahil sacrifices 1/10th from his share in favour of Vijay and rest of the sacrifice was made by Avtar and Satvir in the ratio of 2 : 1. Calculate new profit sharing ratio and sacrificing ratio. 2.99K viewsAnurag Pathak Changed status to publish June 27, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Reema and Sahil are partners sharing profits in the ratio of 3 : 2. Gauarv is admitted as a partner. The new profit sharing ratio among them is 4 : 3 : 2. Calculate the sacrificing ratio. 1.88K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Raman and Kamran are partners sharing profits in the ratio of 3 : 2. Darpan is admitted to the partnership for 1/5th share in future profits. Calculate new profit sharing ratio and the sacrificing ratio. 1.89K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Aman, Burman and Chaman are partners sharing profits in the ratio of 4 : 3 : 2. Devan is admitted for 1/3rd share in future profits. What is sacrificing ratio? 3.25K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Find new profit sharing ratio: i) Kishore, Lata and Asha are partners sharing profits and losses in the ratio of 2/6 : 3/6 : 1/6. They admit Bhappi for 1/6th share. Asha is to retain her original share. ii) Akhil, Nikhil and Adil are partners sharing profits and losses in the ratio of 3 : 2 : 5. They admit Debu and give him 1/5th share. This share is contributed by them in the ratio of 1 : 1 : 3. 2.30K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Bharati and Astha were partners sharing profits in the ratio of 3 : 2. They admitted Dinkar as a new partner for 1/5th share in future profits of the firm, which he got equally from Bharati and Astha. Calculate the new profit sharing ratio of Bharati, Astha and Dinkar. 942 viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Red and White are two partners sharing profits and losses equally. They admit Black as a new partner for 25% share. In future, profit-sharing ratio between Red and White will be 3 : 2. Determine new profit sharing ratio. 2.48K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Amrit and Amar were partners sharing profits in the ratio of 3 : 2. They admitted Amit and Anita as new partners. Amrit surrendered 1/3rd of his share in favour of Amit and Amar surrendered 1/4th of his share in favour of Anita. Calculate new profit sharing ratio of Amrit, Amar, Amit and Anita. 2.85K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Lalit and Mukesh sharing profits in the ratio of 7 : 3 admit Ashok for 3/7th share in the firm which he gets 2/7th from Lalit and 1/7th from Mukesh. Calculate new profit sharing ratio. 1.54K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Vimal and Nirmal are partners sharing profits in the ratio of 3 : 2. Anita is admitted for 1/5th share in the profits. Calculate new profit sharing ratio of the partners. 1.51K viewsAnurag Pathak Changed status to publish June 26, 2023[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th « Previous 1 2 3 4 5 Question and answer is powered by anspress.net
