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Class 12 · Accountancy
→Workmen Compensation Reserve is ₹48000 and claim is also ₹48000. What amount is distributable among old partners?
Class 12 · Accountancy
→At the time of reconstitution, the Reserve Fund is ₹1,26,000 and the old partners share profits in the ratio 2:5:7. An amount of ₹54,000 was credited to the third old partner’s account. Which of the following statements is correct?
Class 12 · Accountancy
→Reserve Fund is ₹126000. Old partners share in 2:5:7. Third partner's share was wrongly recorded as ₹54000. What is the correct difference?
Class 12 · Accountancy
→Accumulated profit is ₹54000 and accumulated loss is ₹81000. In old ratio 4:5 what is the net effect on the second partner?
Class 12 · Accountancy
→Old ratio is 8:7. Reserve Fund is ₹75000 and Profit and Loss debit balance is ₹30000. What is the net effect for the first partner?
Class 12 · Accountancy
→On the admission of a new partner, A, B and C share profits in the old ratio of 4:3:2. The Profit and Loss Account has a credit balance of ₹90,000, and Preliminary Expenses of ₹27,000 are yet to be adjusted. What net amount will be credited to B’s account after the adjustment among the old partners?
Class 12 · Accountancy
→If old partners capital accounts are credited while writing off accumulated loss what will be the effect?
Class 12 · Accountancy
→If General Reserve Account is credited while closing old reserve what is the error?
Class 12 · Accountancy
→Old balance sheet shows Reserve Fund ₹100000 and Reserve Fund Investment ₹100000. What will be the treatment of Reserve Fund on admission?
Class 12 · Accountancy
→The Contingency Reserve is ₹34,000, whereas the related actual liability is determined to be ₹41,000. What is the correct accounting treatment for the liability exceeding the reserve?
Class 12 · Accountancy
→A partnership firm has a Contingency Reserve of ₹88,000. Out of this reserve, ₹52,000 is required to be set aside for an estimated liability. The remaining amount is distributed in the old profit-sharing ratio of 2:3. How much will be received by the first partner?
Class 12 · Accountancy
→A firm has a Dividend Equalisation Reserve of ₹64,000 and Advertisement Suspense Expenditure of ₹16,000. At the admission of a new partner, what will be the net effect on the second partner’s Capital Account in the old partnership ratio of 3:5?
Class 12 · Accountancy
→At the time of admission of a new partner, General Reserve of ₹45,000 and Capital Reserve of ₹27,000 are to be distributed between the old partners, A and B, in their old profit-sharing ratio of 5:4. What total amount will be credited to B’s Capital Account?
Class 12 · Accountancy
→Profit and Loss debit balance ₹36000 was shared equally among three including the new partner. In the correct treatment what should be the new partner's share?
Class 12 · Accountancy
→A and B share profits in the ratio 4:1. On the admission of new partner C, a General Reserve of ₹75,000 was wrongly distributed among A, B and C in the new ratio of 3:1:1. How much less or more did A receive than the amount he should have received?
Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹40000 and investments increase from ₹250000 to ₹270000. What is the correct treatment of the reserve?
Class 12 · Accountancy
→The Investment Fluctuation Reserve is ₹24,000. The value of an investment falls from ₹1,80,000 to ₹1,48,000. What excess loss will be shown in the Revaluation Account after adjusting the Investment Fluctuation Reserve?
Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹70000. Investments fall from ₹500000 to ₹455000. How much balance will be distributed among old partners?
Class 12 · Accountancy
→Workmen Compensation Reserve is ₹55000 and claim is ₹72000. What is the correct accounting effect of the excess claim?
Class 12 · Accountancy
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