Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans L, M and N were partners in a firm sharing profits in the ratio of 2 : 3 : 5. From 1st April, 2018 they decided to share the profits in the ratio of 1 : 2 : 2 3.37K viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in the ratio of 1 : 3 : 2. They decided that with effect from 1st April, 2024, they will share profits in the ratio of 4 : 6 : 5 3.51K viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans A and B have been carrying on business in partnership with fixed capitals of ₹ 2,40,000 and ₹ 1,20,000 respectively and sharing profits in the same proportion 2.61K viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans P, Q and R are partners sharing profits and losses in the ratio of 5 : 3 : 2. From 1st April, 2024, they decide to share profits and losses in equal proportions 3.28K viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans Charu and Dinesh have been sharing profits in the ratio of 3 : 1. The net profits for the past four years have been ₹ 60,000; ₹ 50,000; ₹ 90,000 and ₹ 1,20,000 respectively 3.02K viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans X, Y and Z are partners sharing profits in the ratio of 5 : 4 : 1. It is now agreed that they will share future profits in the ratio of 3 : 3 : 4. Goodwill is valued at ₹ 1,00,000 2.68K viewsAnurag Pathak Answered question August 6, 2024Accountancy Class 12th 0 Votes 1 Ans The following information relates to a partnership firm: (a) Sundry Assets of the firm ₹ 6,80,000. Outside Liabilities ₹ 60,000. 2.59K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Average profit of the firm is ₹ 3,00,000. Total assets of the firm are ₹ 24,00,000 whereas Partner’s Capital is ₹ 20,00,000. If normal rate of return in a similar business is 12% of the capital employed 2.86K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans A partnership firm earned net profits during the last three years as follows: 2021 – 22 ₹ 1,90,000 2022 – 23 ₹ 2,20,000 3.03K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Yash and Karan were partners in an interior designer firm. Their fixed capitals were ₹ 6,00,000 and ₹ 4,00,000 respectively. There were credit balances in their current accounts of ₹ 4,00,000 and ₹ 5,00,000 respectively 2.94K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans An existing firm had assets of ₹ 4,00,000 including cash of ₹ 15,000. Its creditors amounted to ₹ 20,000 on that date. The partner’s capital accounts showed a balance of ₹ 3,00,000 and reserves amounted to ₹ 80,000 2.78K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans A firm earns a profit of ₹ 37,000 per year. In the same business a 10% return is generally expected. The total assets of the firm are ₹ 4,00,000. The value of outside liabilities is ₹ 90,000 2.85K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Calculate the value of goodwill at 2 year’s purchase of the average profits of the last 3 years. The profit for the first year was ₹ 50,000, for second year twice the profit of first year and for the third year one and half times the profit of the second year 2.80K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans Calculate the value of goodwill as on 1st April, 2024, on the basis of 2 and 1/2 year’s purchase of the average profits of the last five years. The profits and losses for the years ending 31st March were: 2019 ₹ 80,000; 2020 ₹ 1,00,000; 2021 Loss ₹ 30,000; 2022 ₹ 1,70,000; 2023 ₹ 1,60,000 and 2024 ₹ 1,80,000 2.86K viewsAnurag Pathak Answered question August 5, 2024Accountancy Class 12th 0 Votes 1 Ans The average profit earned by a firm is ₹ 75,000 which includes undervaluation of stock of ₹ 5,000 on an average basis. The capital invested in the business is ₹ 7,00,000 and the normal rate of return is 7% 3.46K viewsAnurag Pathak Answered question August 4, 2024Accountancy Class 12th 0 Votes 1 Ans Amit, Archit and Akshat are partners in a firm in the ratio of 3 : 2 : 1. On 1st April, 2023 they decided to share the profits in future in the ratio of 7 : 5 : 4. On this date General Reserve is ₹ 38,000 and profit on revaluation of assets and liabilities being ₹ 34,000 2.84K viewsAnurag Pathak Answered question August 4, 2024Accountancy Class 12th 0 Votes 1 Ans L, M and N are partners sharing profits and losses in equal proportion. On 31st March 2021, their balance sheet was as follows: 3.49K viewsAnurag Pathak Answered question August 4, 2024Accountancy Class 12th 0 Votes 1 Ans P, Q and R are in partnership sharing profits and losses in the ratio of 5 : 4 : 3. On 31st March 2023, their balance sheet was as follows: 3.57K viewsAnurag Pathak Edited answer August 2, 2024Accountancy Class 12th 0 Votes 1 Ans X and Y are partners sharing profits and losses in the ratio of 4 : 3. Their Balance Sheet as at 31st March, 2021 stood as follows: 3.65K viewsAnurag Pathak Edited answer August 2, 2024Accountancy Class 12th 0 Votes 1 Ans Aman, Bobby and Chandani were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1. From 1st April, 2018 they decided to share profits equally. The revaluation of assets and re-assessment of liabilities resulted in a loss of ₹ 5,000 3.97K viewsAnurag Pathak Answered question August 2, 2024Accountancy Class 12th 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: 4.17K 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. 3.86K 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: 4.13K 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: 3.32K 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: 3.10K viewsAnurag Pathak Answered question August 1, 2024Accountancy Class 12th « Previous 1 2 … 43 44 45 46 47 … 188 189 Next » Search questions Search Questions Sahaj and Nimish entered into partnership on 1st April, 2025 without a partnership deed. They introduced capital of 5,00,000 and 3,00,000 respectively 1 Answer | 0 Votes Taran and Deep are partners sharing the profits and losses in the ratio of 2 : 3 with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively 1 Answer | 0 Votes Puneet and Sahil are partners sharing profits and losses equally. They had opening credit balance in their Loan Accounts of ₹ 9,00,000 each 1 Answer | 0 Votes Raman and Pawan are partners sharing profits and losses in the ratio of 3 : 2. Raman being a non-working partner contributes ₹ 50,00,000 as capital 1 Answer | 0 Votes Raman and Pawan are partners sharing profits and losses in the ratio of 2 : 3. They had opening credit balance in their Loan Accounts of ₹ 5,00,000 and ₹ 4,00,000 respectively 1 Answer | 0 Votes Bani, Rani, and Mani are partners sharing profits and losses in the ratio of 3 : 2 : 1. Bani and Mani granted loans to the firm on 1st October 2022 of ₹ 2,00,000 and ₹ 3,00,000 respectively 1 Answer | 0 Votes Nirmal and Pawan are partners sharing profits in the ratio of 3 : 2. The firm had given a loan to Pawan of ₹ 5,00,000 on 1st April 1 Answer | 0 Votes Akhil, Sunil, and Parvesh are partners sharing profits in the ratio of 3 : 2 : 1. Sunil had given a loan to the firm on 1st November 2022 of ₹ 4,00,000 1 Answer | 0 Votes Bat and Ball are partners sharing the profits in the ratio of 2 : 3 with capitals of ₹ 1,20,000 and ₹ 60,000 respectively 1 Answer | 0 Votes Akhil and Bimal are partners sharing profits in the ratio of 3 : 2. Akhil gave a loan to the firm of ₹ 1,00,000 on 1st October 2022 1 Answer | 0 Votes Question and answer is powered by anspress.net
