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Partner Admission

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyThe old partners share profits and losses in the ratio of 7:3. The Profit and Loss Account has a credit balance of ₹50,000, and the Advertisement Suspense Account has a balance of ₹80,000. On admission of a new partner, what will be the net effect on the first partner’s Capital/Current Account?Class 12Reconstitution - Admission of a PartnerReservesExpert AccountancyAt the time of a partner’s admission, the Insurance Reserve is ₹68,000 and the insurance claim is ₹26,000. If the remaining reserve is distributed between the old partners in the ratio 2:5, how much will the second partner receive?Class 12Reconstitution - Admission of a PartnerReservesHard AccountancyA and B are partners sharing profits in the old ratio of 5:3. At the admission of a new partner C, the General Reserve of ₹96,000 was mistakenly distributed among A, B and C in the new ratio of 2:3:1. How much less did A receive compared with the amount A should have received under the old ratio?Class 12Reconstitution - Admission of a PartnerReservesHard AccountancyAt the time of reconstitution of a firm, the Insurance Reserve is ₹52,000 and the insurance claim is ₹22,000. After adjusting the claim, how much of the remaining Insurance Reserve will the second partner receive in the old partnership ratio of 3:2?Class 12Reconstitution - Admission of a PartnerReservesHard AccountancyAt the time of admission of a new partner, the old profit-sharing ratio is 9:6. The General Reserve is ₹75,000 and Preliminary Expenses are ₹45,000. What will be the net effect on the first partner after adjustment in the old ratio?Class 12Reconstitution - Admission of a PartnerReservesHard AccountancyX and Y share profits and losses in the ratio of 7:5. On the admission of a new partner, a Reserve Fund of ₹84,000 is to be distributed in the old ratio, and Advertisement Suspense of ₹36,000 is to be written off. What net amount will be credited to Y’s Capital Account?Class 12Reconstitution - Admission of a PartnerReservesHard AccountancyAt the time of a partner’s admission, the Contingency Reserve is ₹46,000, while the related actual liability is determined to be ₹59,000. What will be the additional loss arising from the liability exceeding the reserve?Class 12Reconstitution - Admission of a PartnerReservesMedium AccountancyAt the time of admission of a new partner, A, B and C share profits in the ratio 5:2:1. If the Capital Reserve is ₹64,000 and is to be distributed among the old partners in their old ratio, what will be B’s share?Class 12Reconstitution - Admission of a PartnerReservesMedium AccountancyThe General Reserve is ₹52,000 and the debit balance of the Profit and Loss Account is ₹12,000. What will be the net accumulated profit?Class 12Reconstitution - Admission of a PartnerReservesEasy AccountancyAt the time of admission of a new partner, the General Reserve is ₹60,000 and the Advertisement Suspense Account has a balance of ₹18,000. What will be the net credit to the old partners’ capital accounts?Class 12Reconstitution - Admission of a PartnerReservesEasy AccountancyAt the time of a partner’s admission, on writing off accumulated loss, on which side are the old partners’ capital accounts recorded?Class 12Reconstitution - Admission of a PartnerReservesEasy AccountancyA and B share profits and losses in the ratio of 4:1. The reserve is ₹20,000 and the Advertisement Suspense Account has a balance of ₹5,000. What will be the net credit to A’s account?Class 12Reconstitution - Admission of a PartnerReservesMedium AccountancyAt the time of a partner’s admission, the General Reserve in the books is ₹48,000 and the old partners’ profit-sharing ratio is 5:1. Why will the new partner not receive a share of this reserve?Class 12Reconstitution - Admission of a PartnerReservesMedium AccountancyAn old royalty liability of ₹26,000 had been omitted from the books by mistake. It is now recognised at the time of reconstitution. What will be its effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of reconstitution, a vehicle was recorded in the firm’s books at ₹2,10,000. On revaluation, its value decreased to ₹1,92,000, and an unrecorded spare part worth ₹9,500 was found. What will be the net result in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyOn the admission of a partner, the book value of machinery is reduced from ₹2,40,000 to ₹2,10,000, and an unrecorded liability of ₹14,000 relating to machinery repairs is recorded. What will be the total debit to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAt the time of a partner’s admission, the value of a building increases from ₹2,00,000 to ₹2,30,000, while a loan decreases from ₹90,000 to ₹85,000. What will be the combined effect of these two adjustments on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe provision for doubtful debts is reduced from ₹8,000 to ₹5,500. What amount of gain will be recognized in the Revaluation Account at the time of reconstitution?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA and B share profits in the old ratio of 4:1. The Revaluation Account shows a loss of ₹25,000. What will be the effect on A’s Capital Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAt the time of admission of a new partner, creditors are reduced from ₹96,000 to ₹88,000. What amount will be shown for creditors in the new balance sheet?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium