Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Asha, Rina and Chahat were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2019 was as follows: 543 viewsAnurag Pathak Answered question August 2, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1. From 1st April, 2023 they decided to share future profits and losses equally. 654 viewsAnurag Pathak Answered question August 2, 2024Accountancy Class 12th 0 Votes 1 Ans P, Q and R were partners sharing profits in the ratio of 1 : 3 : 2. Following was their Balance Sheet as at 31st March, 2022: 667 viewsAnurag Pathak Changed status to publish August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C are partners in a firm sharing profits in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2022 is as under: 444 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans X, Y and Z are partners sharing profits and losses in the ratio of 7 : 5 : 4. Their balance sheet as at 31st March 2021 stood as follows: 568 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans Arun and Varun were in partnership sharing profits in the ratio of 2 : 3. With effect from 1st May 2021 they agreed to share profits in the ratio of 1 : 2. For this purpose the goodwill of the firm is to be valued at two year’s purchase of the average profits of last three years, which were ₹ 1,50,000, ₹ 1,40,000 and ₹ 2,20,000 respectively 549 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A, B, C and D are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 : 1. They decided to share future profits and losses in the ratio of 3 : 2 : 2 : 3. For this purpose goodwill of the firm valued at ₹ 1,50,000 506 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans X Y and Z were sharing profits and losses in the ratio of 5 : 3 : 2. They decided to share future profits and losses in the ratio of 2 : 3 : 5 with effect from 1.4.2022. They decided to record the effect of the following, without effecting their book values 437 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C are partners sharing profits equally. From 1st April, 2022, they decided to share profits in the ratio of 3 : 4 : 5. On that date, Profit and Loss Account showed a credit balance of ₹ 90,000 582 viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th 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 485 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 : 3 429 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 650 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 ₹ 64,000 553 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 499 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 : 4 531 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 497 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 537 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 564 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: 5.84K 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. 3.88K 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 : 3 767 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: 583 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% 620 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: 655 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% 501 viewsAnurag Pathak Changed status to publish July 16, 2024Accountancy Class 12th « Previous 1 2 … 23 24 25 26 27 … 169 170 Next » Question and answer is powered by anspress.net
