Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Murli, Naveen, and Omprakash are partners sharing profits in the ratio of 3/8, 1/2 and 1/8. Murli retires and surrenders 2/3rd of his share in favor of Naveen and the remaining share in favour of Omprakash. Calculate the new profit sharing ratio and gaining ratio of the remaining partners. 2.86K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans A, B and C are partners sharing profits in the ratio of 5 : 3 : 2. C retires and his share is taken by A. Calculate new profit sharing ratio of A and B. 2.37K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in the ratio of 8 : 4 : 3. B retires and his share is taken up equally by A and C. Find the new profit sharing ratio. 2.39K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4. kumar retires and his share is taken by Lakshya and Manoj in the ratio of 3 : 2. Calculate new profit sharing ratio and gaining ratio of the remaining partners. 2.79K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y retires and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio. 3.66K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Sarthak, Vansh and Mansi were partners sharing profits in the ratio of 4 : 3 : 2. Sarthak retires, Vansh and Mansi will share future profits in the ratio of 2 : 1. Determine the gaining ratio. 4.65K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans X, Y and Z are partners sharing profits in the ratio of 1/2, 3/10, and 1/5. Calculate the gaining ratio of remaining partners when Y retires from the firm. 2.56K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans R, S and M are partners sharing profits in the ratio of 2/5, 2/5, and 1/5. M decides to retire from the business and his share is taken by R and S in the ratio of 1 : 2. Calculate the new profit-sharing ratio. 2.88K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans From the following particulars, calculate new profit sharing ratio of the partners: a) Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5 : 5 : 4. Mohan retired and his share was divided equally between Shiv and Hari. b) P, Q and R were partners sharing profits in the ratio of 5 : 4 : 1. P retires from the firm. 4.26K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Gita, Radha, and Garv were partners sharing profits in the ratio of 1/2, 2/5, and 1/10. Find the new ratio of the remaining partners if Garv retires. 4.32K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Following is the Balance Sheet of Jay and Veeru as at 31st March, 2023 who are partners in a firm sharing profits and losses in the ratio of 3 : 2 respectively. 5.88K viewsAnurag Pathak Changed status to publish June 12, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Kavi and Ravi were partners in a firm sharing profits in the ratio of 5 : 3. On 31st March, 2023, they admitted Chhavi as a partner for 1/5th share in the profit. On Chhavi’s admission, the Balance Sheet of the firm was as follows: 4.20K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans On the date of Shiv’s admission, an extract of the Balance Sheet of Ram and Mohan sharing profits and losses in the ratio of 3 ; 2 was as under: 2.22K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Amol and Ameet are partners sharing profits and losses in the ratio of 2 : 1. They admit Atul for 1/4th share. For the purpose of admission of Atul, goodwill of the firm is to be valued on the basis of 2 year purchase of Average Super Profit of last four years. The normal rate of return in their business is 12% on capital employed. 2.93K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Which of the following statement is wrong in the context of admission of a partner? 2.16K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Amit and Vidya are partners in a firm. They admit Sanjana as a partner with 1/4th share in the profits of the firm. Sanjana brings ₹ 2,00,000 as her share of capital. The value of the total assets of the firm is ₹ 5,40,000 and outside liabilities are valued at ₹ 1,00,000 on that date. Sanjana’s share of goodwill is 2.64K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission) 0 Votes 1 Ans Parvan and Rahim are partners sharing profits and losses in the ratio of 3 : 2. karan is admitted as a partner with 1/4th share in profits. karan was unable to bring his share of goodwill premium in cash. 2.88K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thMCQs (Admission) 0 Votes 1 Ans Assertion (A): Anahat and Parminder are partners sharing profits in the ratio of 2 : 1. They admit Rubayat as partner w.e.f. 1st January, 2021. On that date, Goodwill existed in the books at ₹ 1,00,000. Goodwill of ₹ 50,000 was written off by debiting capital accounts of Anahat and Parminder in the ratio of 2 : 1. While balance goodwill was carried forward in the Balance Sheet. 1.27K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission) 0 Votes 1 Ans Assertion (A): Gurman and Ravi are equal partners. They admitted Param as a partner and their new profit-sharing ratio was 2 : 2 : 1. They revalued the assets and reassessed their liabilities. They did so because a new partner should not be at an advantage or disadvantage. 1.01K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission) 0 Votes 1 Ans Assertion (A): Parul and Paresh are partners sharing profits equally. They admit Prema for 1/4th share in future profits. On the date of admission, Workmen Compensation Reserve existed in the books at ₹ 1,00,000. A claim of ₹ 1,50,000 was made by a worker and was to be accounted. The existing reserve of ₹ 1,00,000 will be distributed between Parul and Paresh and ₹ 1,50,000 being the claim amount will be transferred to the debit of Revaluation Account. 1.11K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission) 0 Votes 1 Ans Assertion (A): Ajay and Akansha are partners sharing profits in the ratio of 3 : 2. General Reserve existed in the books at ₹ 1,00,000. They admitted Amit as a partner for 2/5th share in profits. ₹ 50,000 was transferred to Workmen Compensation Reserve and the balance was transferred to the Capital Accounts of Ajay and Akansha in the ratio of 3 : 2. 1.27K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission) 0 Votes 1 Ans Assertion (A): General Reserve is not distributed among the old partners but is carried forward in the Balance Sheet prepared after the admission of a partner. 1.76K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission) 0 Votes 1 Ans Assertion (A): Admission of a partner means reconstitution of the partnership whereby old partnership ceases to exist and new partnership comes into existence. 1.78K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission)MCQs (Admission) 0 Votes 1 Ans Assertion (A): Admission of a partner leads to dissolution of old firm and bringing new firm into existence. 1.79K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission)MCQs (Admission) 0 Votes 1 Ans Assertion (A): At the time of admission of a partner, new partner should bring his share in goodwill in cash to compensate the Sacrificing Partner. 2.06K viewsAnurag Pathak Changed status to publish June 8, 2023[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason MCQs (Admission)MCQs (Admission) « Previous 1 2 … 142 143 144 145 146 … 161 162 Next » Question and answer is powered by anspress.net
