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Class 12 · Accountancy · Medium
→What is the most common exam mistake in adjustment of reserves at admission?
Class 12 · Accountancy · Expert
→Why does the new partner's account not appear in the entry for distributing accumulated profits?
Class 12 · Accountancy · Expert
→What is the most correct accounting basis for distributing reserves?
Class 12 · Accountancy · Hard
→Profit and Loss debit balance of ₹54,000 was written off in the capital ratio 5:4 instead of the old ratio 2:1. What was the correct effect on the second partner?
Class 12 · Accountancy · Hard
→Which statement is correct when a Reserve Fund has separate investments shown against it?
Class 12 · Accountancy · Hard
→Insurance Reserve is ₹30,000 and the claim is ₹42,000. How will the excess claim be treated?
Class 12 · Accountancy · Hard
→Accumulated loss was shared in the capital ratio instead of the old profit-sharing ratio. What should be the correct basis for correction?
Class 12 · Accountancy · Hard
→If old partners' capital accounts are debited in the entry for closing an old reserve, what is the main error?
Class 12 · Accountancy · Hard
→Investment Fluctuation Reserve is ₹18,000. The value of investments changes from ₹2,10,000 to ₹1,84,000. What will be the excess loss?
Class 12 · Accountancy · Medium
→Special Reserve is ₹64,000 and the related liability is ₹49,000. What amount will be distributed among the old partners?
Class 12 · Accountancy · Medium
→Old partners share 1:1:2. Profit and Loss credit balance is ₹60,000 and Preliminary Expenses are ₹20,000. What is the third partner's net credit?
Class 12 · Accountancy · Medium
→Old partners share profits in the ratio 3:4. General Reserve is ₹77,000 and the Profit and Loss Account has a debit balance of ₹28,000. What is the second partner’s net credit?
Class 12 · Accountancy · Medium
→Old partners A, B and C share profits in the ratio 1:3:2. General Reserve is ₹72,000 and new partner D is admitted. Why will D not get a share in the reserve?
Class 12 · Accountancy · Medium
→Why is it wrong to distribute accumulated profits in the new ratio?
Class 12 · Accountancy · Medium
→Workmen Compensation Reserve is ₹95,000 and the claim is ₹35,000. What amount will be distributed among the old partners?
Class 12 · Accountancy · Easy
→Which item will be credited to the old partners?
Class 12 · Accountancy · Easy
→If accumulated profit is not adjusted, the new partner may wrongly get a share in what?
Class 12 · Accountancy · Easy
→What type of balance does the General Reserve Account have?
Class 12 · Accountancy · Easy
→If the value of investments increases instead of falling, what is the usual treatment of Investment Fluctuation Reserve?
Class 12 · Accountancy · Easy
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