Accountancy
Reconstitution - Admission of a Partner
पुनर्गठन - साझेदार का प्रवेश
In Class 12 Accountancy, the chapter Reconstitution - Admission of a Partner explains how a partnership firm is adjusted when a new partner joins. Students learn to calculate the new profit-sharing ratio, account for goodwill, revalue assets and liabilities, and distribute accumulated reserves. The chapter also shows how these changes protect the interests of existing partners while recording the revised financial position of the firm.
1New Profit Sharing Ratio
नया लाभ-विभाजन अनुपात
In this Class 12 Accountancy topic from Reconstitution – Admission of a Partner, students learn how to determine the new profit-sharing ratio among partners after a new partner joins the firm. The topic explains how the incoming partner’s agreed share affects the existing partners and how the revised ratio is calculated from the old ratio, the new partner’s share, and any agreed sacrifice. Students also practise applying these concepts to partnership adjustment questions accurately.
609 questionsGoodwill Accounting
ख्याति (Goodwill) लेखांकन
Goodwill Accounting in Class 12 Accountancy explains how a firm records and adjusts the value of its reputation when a new partner is admitted. Students learn why the incoming partner compensates the old partners, how goodwill is valued using average profit, super profit, or capitalization methods, and how the amount is treated when it is brought in cash, retained in the business, withdrawn, or not brought at all. The topic also covers sacrificing ratio, hidden goodwill, and the journal entries required under different admission situations.
608 questionsAsset Revaluation
संपत्तियों का पुनर्मूल्यांकन
In Class 12 Accountancy, Asset Revaluation explains how a firm adjusts the book values of its assets when a new partner is admitted. Students learn to record increases or decreases in asset values through the Revaluation Account, calculate the resulting profit or loss, and distribute it among the existing partners in their old profit-sharing ratio. The topic also connects these adjustments with journal entries and partners’ capital or current accounts during reconstitution.
600 questionsReserves
संचितियाँ
Reserves in Class 12 Accountancy explain how accumulated profits, losses and reserve balances are treated when a new partner is admitted during reconstitution. Students learn that reserves created before admission generally belong to the old partners and are transferred to their capital or current accounts in the old profit-sharing ratio, so the incoming partner does not share past profits. The topic also covers general reserve, debit or credit balance of Profit and Loss Account, specific reserves and the related journal entries.
600 questions