Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans P, Q and R are partners in a firm sharing profits in the ratio of 2 : 2 : 1. On March 31, 2024, their Balance Sheet showed a general reserve of ₹ 3,00,000. On that date they decided to share future profits equally 406 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans Samiksha, Ash and Divya were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. With effect from 1st April, 2019, they agreed to share future profits and losses in the ratio of 2 : 5 : 3 346 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C sharing profits and losses in the ratio of 4 : 3 : 2, decide to share profits and losses in the ratio of 2 : 3 : 4 with effect from 1st April, 2024. Following is an extract of their Balance Sheet as at 31st March, 2024 520 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans P, Q and R were partners in a firm sharing profits in the ratio of 1 : 1 : 2. On 31st March, 2018, their balance sheet showed a debit balance of ₹ 9,000 in the profit and loss account and a Workmen Compensation Reserve of ₹ 64,000 454 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A and B sharing profits and losses in the ratio of 2 : 3 decide to share future profits and losses equally with effect from 1st April, 2024. An extract of their Balance Sheet as at 31st March, 2024 is as follows 416 viewsAnurag Pathak Edited answer August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C are partners sharing profits and losses in the ratio of 1 : 2 : 3. From April 1, 2024, they decided to share the profits in the ratio of 2 : 3 : 4 430 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A and B are partners in a firm sharing profits in the ratio of 3 : 2. They decided to share profits in the ratio of 3 : 4 w.e.f., April 1, 2024. On that date there was a credit balance of ₹ 70,000 in their profit and Loss Account 411 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C were partners sharing profits and losses in the ratio of 7 : 3 : 2. From 1st April 2021, they decided to share profits and losses in the ratio of 8 : 4 : 3. Goodwill is to be valued at the average of three year’s profits preceding the date of change in profit sharing ratio 435 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans P, Q and R are partners sharing profits equally. They decided that in future R will get 1/7 share in profits. On the day of change, firm’s Goodwill is valued at ₹ 42,000. Give Journal Entries arising on account of change in profit sharing ratio 450 viewsAnurag Pathak Answered question July 31, 2024Accountancy Class 12th 0 Votes 1 Ans Rajesh and Ravi are partners sharing profits in the ratio of 3 : 2. Their Balance Sheet at 31st March, 2023 stood as: 5.58K viewsAnurag Pathak Changed status to publish July 31, 2024[CBSE] Admission of Partner[CBSE] TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans X, Y and Z were partners in a firm sharing profit in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every year. Y died on 30th June, 2023. 3.68K viewsAnurag Pathak Changed status to publish July 31, 2024[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans A and B are partners sharing profits and losses in the ratio of 3 : 1. It was decided that with effect from 1st April, 2024 the profit sharing ratio will be 5 : 3 675 viewsAnurag Pathak Answered question July 16, 2024Accountancy Class 12th 0 Votes 1 Ans The following information relates to a partnership firm: (a) Profits/Losses for the last six years: 492 viewsAnurag Pathak Changed status to publish July 16, 2024Accountancy Class 12th 0 Votes 1 Ans The average profits of a firm is ₹ 48,000. The total assets of the firm are ₹ 8,00,000. Value of outside liabilities is ₹ 5,00,000. Average rate of return in the same business is 12% 542 viewsAnurag Pathak Answered question July 16, 2024Accountancy Class 12th 0 Votes 1 Ans Anupama, Purnima and Ruchika are partners in a business. Balances in their Capital and Current Accounts as on 31st March, 2023 were: 557 viewsAnurag Pathak Answered question July 16, 2024Accountancy Class 12th 0 Votes 1 Ans The average profits of a firm is ₹ 48,000. The total assets of the firm are ₹ 8,00,000. Value of outside liabilities is ₹ 5,00,000. Average rate of return in the same business is 12% 411 viewsAnurag Pathak Changed status to publish July 16, 2024Accountancy Class 12th 0 Votes 1 Ans On April 1st 2024, an existing firm had assets of ₹ 5,00,000 including cash of ₹ 20,000. the firm had a General Reserve of ₹ 90,000, partner’s capital accounts showed a balance of ₹ 3,80,000 and creditors amounted to ₹ 30,000 739 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th 0 Votes 1 Ans A and B are partners. They admit C for 1/4th share in profits. For this purpose goodwill is to be valued at three year’s purchase of super profits. 701 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th 0 Votes 0 Ans Find out the capital employed from the following information: Normal rate of return: 12% 349 viewsAnurag Pathak Changed status to publish July 12, 2024Accountancy Class 12th 0 Votes 1 Ans The capital of the firm of Anuj and Benu is ₹ 10,00,000 and the market rate of interest is 15%. Annual salary to the partners is ₹ 60,000 each. The profit for the last three years were ₹ 2,80,000, ₹ 3,80,000 and ₹ 4,20,000 574 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th 0 Votes 1 Ans Capital invested in a firm is ₹ 3,00,000. Normal rate of return is 10%. Average profits of the firm are ₹ 41,000 (after an abnormal loss of ₹ 2,000). Calculate goodwill at five times the super profits 460 viewsAnurag Pathak Changed status to publish July 12, 2024Accountancy Class 12th 0 Votes 1 Ans Pratik, Nitish and Avinash are in partnership sharing profits equally. Avinash died on 30th June 1.73K viewsAnurag Pathak Changed status to publish July 12, 2024[ISC] Death of Partner 0 Votes 1 Ans A firm earned profits of ₹ 80,000, ₹ 1,00,000, ₹ 1,20,000 and ₹ 1,80,000 during 2010-11, 2011-12, 2012-13 and 2013-14 respectively. The firm has capital investment of ₹ 5,00,000 1.18K viewsShruti Ahuja Changed status to publish July 7, 2024 0 Votes 1 Ans Amit, Balan and Chander were partners in a firm sharing profits in the proportion of 1/2, 1/3 and 1/6 respectively. Chander retired on 1st April, 2014. The Balance Sheet of the firm on the date of Chander’s retirement was as follows: 5.62K viewsAnurag Pathak Changed status to publish July 6, 2024[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Prepare Sales Book from the following transactions of Gurman Traders dealing in furniture. Open the Ledger Accounts also: 1.50K viewsAnurag Pathak Changed status to publish July 1, 2024Other BookTS Grewal Class 11 « Previous 1 2 … 20 21 22 23 24 … 166 167 Next » Question and answer is powered by anspress.net
