Partnership PYQ — Page 25

A and B are partners sharing profits equally with capitals of Rs 45,000 each. They admitted C as a new partner for one-third share in the profit. C brings in Rs 60,000 as his capital. Find the value of Firm Goodwill.

A and B are partners sharing profits equally with capitals of Rs 45,000 each. They admitted C as a new partner for 1/3rd share in the profit. C bring Rs 60,000 as his capital. Find the goodwill of the firm.

A and B are partners in a firm sharing profits in the ratio of 3:2. They admit C as a partner for 1/3 share, the sacrificing ratio between A and B is

A and B are partners in a firm sharing profits in the ratio 2:1. C is admitted into the firm with 1/4th share in profits and he brings Rs. 30,000 as his capital. If the capitals of A and B are to be adjusted in their profit sharing ratio then the capital of A will be-

A and B are partners in a firm with their fixed capital Rs 4,00,000 and 5,00,000 respectively. After preparation of accounts, it was found that interest on capital @ 10% p.a as provided by the partnership deed is omitted. In order to rectify the mistake, A's Current account will be _____?

A and B are partners in a firm sharing profits in the ratio of 3:2. They admitted M as a new partner for 1/4 share. The new profit sharing ratio between A and B will be 2:1. Calculate their sacrificing ratio.

A and B are partners in a firm with their fixed capital Rs 4,00,000 and 5,00,000 respectively. After preparation of accounts, it was found that interest on capital @ 10% p.a as provided by the partnership deed is omitted. In order to rectify the mistake, A's current account will be ………?

A and B are partners in a firm sharing profits in the ratio 2:1. C is admitted into the firm with 1/4th share in profits and he brings Rs. 30,000 as his capital. If the capitals of A and B are to be adjusted in their profit sharing ratio then the capital of A will be-

Which of the following would affect the Revaluation Account at the time of admission of a partner?

Which of the following would affect the Revaluation Account at the time of reconstitution of a partnership firm?

What is the mode of dissolution of the firm followed by G, K and B?

The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following:

The entry for realisation expenses in above case study will be:

The Deceased Partner's Capital Account includes the following amount/balances:

The adjustment required for overvaluation of closing stock, while calculating adjusted profit for calculating goodwill is

On the date of admission of a partner there was a balance of ₹ 45,000 in the account of machinery. It was found undervalued by 10%. The value of machinery will appear in the new Balance Sheet at:

On dissolution of a firm, bank overdraft is transferred to:

Match List-I with List-II

Match List-I with List-II

Kavita and Lalita are partners, sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in profits with a guaranteed amount of ₹ 25,000. Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their respective profit sharing ratio. The firm earned profits of ₹ 76,000 for the year 2022-23. The deficiency borne by Kavita is:

If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner.

Identify the correct sequence to be followed while preparing of final account of a partnership firm:

Existing Profit and Loss Account in the books of the firm will be shared/borne by partners in the ratio:

Determine the amount of Profit and Loss Account.