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 5 : 3 : 2. C retired and his capital balance after adjustments regarding reserves, accumulated profits/losses and his share of gain on revaluation was ₹ 2,50,000. 2.71K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Retiring partner is compensated by the continuing partners in their 844 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners in the firm, sharing profits in the ratio of 2 : 2 : 1. Their Capital Accounts stand as ₹ 50,000, ₹ 50,000 and ₹ 25,000, respectively. 1.68K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profit and losses in the ratio of 2 : 2 : 1. B retired from the firm. At the time goodwill of the firm was valued at ₹ 30,000. What contribution has to be made by A and C to pay B? 1.06K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profits and losses in the ratio of 5 : 4 : 3. C retires and is credited for ₹ 9,000 as goodwill. How much will be debited to A in respect of goodwill adjustment? 1.98K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retires, if A and B take the share of retiring partner equally, new profit sharing ratio will be 2.13K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retired, and new profit sharing ratio is 3 : 2. Gaining Ratio will be 740 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans A B and C are partners sharing profits 745 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Srishti, Nitya and Anand were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Srishti retired from the firm selling her share of profits to Nitya and Anand in the ratio of 2 : 1. The new profit sharing ratio between Nitya and Anand will be 3.09K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Amla, Bimla and Kavita were partners sharing profits and losses in the ratio of 4 : 3 : 1. Bimla retires and gives her share of profit to Amla for ₹ 3,600 and to Kavita for ₹ 3,000. The gaining ratio of Amla and Kavita will be: 1.90K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans On the retirement of Hari from the firm of Hari, Ram and Sharma, the Balance Sheet showed a debit balance of ₹ 12,000 in the Profit & Loss Account. For calculating the amount payable to Hari, this balance will be transferred 1.14K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Gaining Ratio is 873 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 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? 2.40K 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. 4.27K 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: 2.23K 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: 786 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 818 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 772 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: 1.14K 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: 761 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Which of the following statement is correct? 903 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: 2.19K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Accumulated losses are: 825 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Accumulated Profits are 733 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) 0 Votes 1 Ans Gaining Ratio is calculated as: 781 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thMCQs (Retirement) « Previous 1 2 … 138 139 140 141 142 … 161 162 Next » Question and answer is powered by anspress.net
