Category MCQs (Retirement) MCQs (Retirement) 39 Questions Ask question Search Order By: ActiveClear Filter 0 Votes 1 Ans Amount credited to a retiring partner in his capital Account is ₹ 2,01,000. He took investments at ₹ 58,000. He also took 20% of the debtors. The amount transferred to his loan account is ₹ 1,23,000. What is the total value of the debtors? 4.24K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Amay, Bina and Chander are partners in a firm with capital balances of ₹ 50,00, ₹ 70,000 and ₹ 80,000 respectively on 31st March, 2022. Amay decides to retire from the firm on 31st March, 2022. 6.84K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of Mohan, stock is given as ₹ 60,000 in the Balance Sheet of the firm. If stock is undervalued by ₹ 10,000. the Journal entry passed for the above is: 3.72K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, loss on revaluation will be debited to the Capital Accounts of: 2.04K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, profit (gain) on revaluation will be credited to the capital accounts of 1.86K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Unrecorded assets at the time of retirement of a partner are 1.85K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, compensation paid to sacrificing partner as Goodwill is recorded by passing the following Journal entry: 2.39K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans At the time of retirement of a partner, Goodwill existing in the Balance Sheet is written off by passing the following Journal entry: 2.03K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Which of the following statement is correct? 1.99K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Sonu, Monu and Gopal are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. The extract of their Balance Sheet is as follows: 3.66K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Accumulated losses are: 2.04K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Accumulated Profits are 1.87K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Gaining Ratio is calculated as: 1.87K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Retiring Partner is compensated for foregoing his profit share in favour of all or some of the partners remaining as partners. The compensation is paid by the remaining partners in 2.02K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) « Previous 1 2 Question and answer is powered by anspress.net
