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RELATED QUESTIONS

Partnership Accounts

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

AccountancyOn the death of a partner, how is the partner’s share of accumulated profits, such as the general reserve, treated in the partner’s account?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareHard AccountancyWhich of the following is a common mistake while calculating the deceased partner’s share of profit?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyFor calculating a deceased partner’s share of profit, if the firm’s annual profit is ₹15,00,000 and the partner dies 3 months after the beginning of the financial year, what is the time-apportioned share of the firm’s profit up to the date of death? Assume that profit accrues evenly throughout the year.Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyPayment of the deceased partner’s share of profit earned up to the date of death settles whose claim?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyThe average annual profit is ₹6,60,000. If the partner died after completing 11 months of the accounting year, what is the estimated share of the firm’s profit up to the date of death? Assume a profit-sharing ratio of 1/1 for the time-based calculation.Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyWhy is it necessary to determine the period up to the date of death when calculating a deceased partner’s share of profit?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyA partner’s average annual share of profit was ₹9,00,000. The partner dies four months after the beginning of the financial year. What amount of profit should be credited to the partner’s account up to the date of death?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyHow is the deceased partner’s share of profit earned up to the date of death treated in the firm’s books?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyIf the firm’s annual profit is ₹10,80,000 and a partner dies after 2 months of the financial year, what is the estimated profit up to the date of death on a time basis?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyAssertion (A): Subject to the partnership agreement, the deceased partner’s account is credited with his share of the profit earned from the beginning of the current accounting year up to the date of death.\nReason (R): He was a partner up to the date of death, and his right to the profit of that period arises from the partnership agreement.Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyIf the firm’s annual average profit is ₹7,80,000 and a partner dies 5 months into the year, what is the estimated share of profit up to the date of death? Assume the partner’s profit-sharing ratio is 1.Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyWhich statement is correct regarding a deceased partner’s share of profit in a partnership firm?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyUnder the time-basis method, which factor is directly used to calculate the deceased partner’s share of profit up to the date of death?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyIf the estimated annual profit attributable to the deceased partner is ₹4,20,000 and he dies after 9 months of the financial year, what will be his share of profit up to the date of death?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyWhat is the main objective of estimating a deceased partner’s share of profit?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyA partner dies four months after the beginning of the financial year. If the firm’s estimated annual profit is ₹1,50,000 and profit is earned uniformly throughout the year, what will be the profit up to the date of death?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyA firm’s average annual profit is ₹9,60,000. A partner having a 1/4 profit-sharing ratio dies after 3 months of the year. Under the average profit method, what will be the deceased partner’s share of profit up to the date of death?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyIn calculating the deceased partner’s share of profit, what period is meant by “up to the date”?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyWhy are the average profits of previous years used to calculate a deceased partner’s share of profit?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyAssuming that the deceased partner’s profit-sharing ratio is 1/1, if the annual profit is ₹8,40,000 and he dies 1 month after the beginning of the accounting year, what will be his share of profit up to the date of death?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert