Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A, B and C were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2024 was as follows: 247 viewsAnurag Pathak Answered question August 29, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Charu and Deepika were partners sharing profits in the ratio of 3 : 2. They admitted Esha, as a new partner and the new ratio is agreed at 4 : 3 : 2. On the date of Esha’s admission, the Balance Sheet of Charu and Deepika disclosed General Reserve ₹ 1,20,000 150 viewsAnurag Pathak Changed status to publish August 29, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B sharing profits and losses in the ratio of 3 : 2 decide to admit C for 1/3rd share. On this date, their Balance Sheet disclosed the following items: 178 viewsAnurag Pathak Answered question August 29, 2024DK Goel Admission of a Partner 0 Votes 1 Ans P and Q were partners sharing profits in the ratio of 2 : 1. On 1st April, 2023, they admitted R as a new partner and the new profit sharing ratio of P, Q and R is agreed at 3 : 1 : 1. R brought in ₹ 2,00,000 as his capital and ₹ 60,000 as his share of premium for goodwill 175 viewsAnurag Pathak Edited answer August 29, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A, B and C are partners sharing profits in 2 : 2 : 1. On 1st April, 2023, they admitted Z for 1/4th share. On the date of admission, the following items appeared in their Balance Sheet: 174 viewsAnurag Pathak Answered question August 29, 2024DK Goel Admission of a Partner 0 Votes 1 Ans X and Y are partners in a firm. On 1st April, 2023, they admitted Z as a partner and new profit sharing ratio is agreed at 3 : 2 : 1. Their Balance Sheet disclosed ‘Workmen Compensation Reserve’ amounting to ₹ 1,00,000 on this date. Show the accounting treatment, if 175 viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B were partners in a firm sharing profits in the ratio of 7 : 3. On 1-3-2024, they admitted C as a new partner for 1/6th share in the profits of the firm. They fixed the new profit sharing ratio as 3 : 2 : 1 182 viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Khushi and Sukhi are partners in a firm sharing profits in the ratio of 5 : 4. On April 1, 2024, they admit Muskan as a new partner and the new ratio is agreed at 3 : 2 : 1 158 viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B were in partnership sharing profits and losses in the ratio of 3 : 1. On 1st April, 2024 they admit C as a partner on the following terms: (a) That C brings ₹ 1,00,000 as his capital and ₹ 50,000 for goodwill, half of which to be withdrawn by A and B 258 viewsAnurag Pathak Changed status to publish August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Ayushi and Shrishti are partners sharing profits in 3 : 2. Their Balance Sheet showed Stock at ₹ 3,10,000; Machinery at ₹ 4,95,000; Debtors at ₹ 6,00,000; Creditors at ₹ 3,47,000. They admit Tina as a partner and new profit sharing ratio is agreed at 4 : 3 : 2 179 viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Pass journal entries to record the following transactions on the admission of a new partner: Land and Building is undervalued by ₹ 2,00,000 153 viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in the ratio of 2 : 2 : 1. They admitted D for 1/6th share in the profits. The new profit sharing ratio will be 13 : 8 : 4 : 5 respectively. D brought ₹ 5,00,000 for his capital and ₹ 60,000 for his share of goodwill 198 viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans X and Y are partners sharing profits in the ratio of 3 : 1. Z is admitted as a partner for which he pays ₹ 30,000 for goodwill in cash. X, Y and Z decided to share future profits in equal proportion 178 viewsAnurag Pathak Answered question August 28, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits in the ratio of 3 : 1. C is admitted as a partner with 2/9th share; A and B will in future get 4/9th and 3/9th share of profits. C pays ₹ 2,00,000 for goodwill. Pass the necessary journal entries 190 viewsAnurag Pathak Answered question August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits in the ratio of 3 : 2. They admit C into the firm for 3/7th profits (which he takes 2/7th from A and 1/7th from B) and brings ₹ 6,00,000 as premium out of his share of ₹ 7,20,000 176 viewsAnurag Pathak Answered question August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans X and Y are partners sharing profits in the ratio of 3 : 2. Goodwill appears in their balance sheet at ₹ 60,000. Z is admitted as a partner for 1/4th share in the profits. The total goodwill of the firm is valued at ₹ 2,00,000 237 viewsAnurag Pathak Answered question August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans P, Q and R share profits in the ratio of 5 : 3 : 2. S was admitted into partnership. S brings in ₹ 30,000 as his capital. S is entitled for 1/5th share in profits which he acquires equally from P, Q and R. Goodwill of the firm is to be valued at three year’s purchase of last four years’ average profits 164 viewsAnurag Pathak Changed status to publish August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits in the ratio of 3 : 2. On 1st April, 2022 they admit C as a new partner for 1/4th share. C acquires 1/5th of his share from A 280 viewsAnurag Pathak Changed status to publish August 27, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Aru and Beena are partners in a firm sharing profits in the ratio of 2 : 1. They admit Charu and Diya as two new partners. The new profit sharing ratio is agreed at 4 : 3 : 2 :1. Charu introduced ₹ 5,00,000 and Diya ₹ 3,00,000 as their capitals 286 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. They admit C into partnership with 1/4th share which he acquires from A and B in the ratio of 2 : 1 199 viewsAnurag Pathak Changed status to publish August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits and losses in 3 : 2. They admit C into partnership for 1/5th share in the profits. C pays in cash ₹ 40,000 for his capital. Goodwill of the firm is valued at ₹ 25,000 but C is unable to bring his share of goodwill in cash 215 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B carrying on business as partners used to share profits and losses thus; A 4/7ths and B 3/7ths, and goodwill appeared in the books of the firm at ₹ 2,80,000 when C was admitted as a partner having 1/7th share in profits and losses 162 viewsAnurag Pathak Changed status to publish August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans P and S are partners sharing profits in the ratio of 3 : 2. Their books showed goodwill at ₹ 20,000, R is admitted with 1/5th share which he acquires equally from P and S. R brings ₹ 20,000 as his capital and ₹ 10,000 as his share of goodwill 184 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners, sharing profit and losses in the ratio of 3 : 2. Goodwill appears in their Balance Sheet at ₹ 24,000, When C is admitted into partnership for 1/5th share in profit. He pays ₹ 50,000 for capital and ₹ 8,000 as goodwill 172 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner 0 Votes 1 Ans Ram and Rahim are partners in a firm sharing profits in the ratio of 3 : 2. On April 1, 2023 they admit Raj as a new partner for 3/13th share in the profits. The new ratio will be 5 : 5 : 3 166 viewsAnurag Pathak Answered question August 26, 2024DK Goel Admission of a Partner « Previous 1 2 … 10 11 12 13 14 … 161 162 Next » Question and answer is powered by anspress.net
