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Class 12 · Accountancy
→Under fluctuating capital method what is the effect on old partners accounts when Advertisement Suspense is written off?
Class 12 · Accountancy
→Under fixed capital method where will the net profit from General Reserve and Profit and Loss debit balance be credited?
Class 12 · Accountancy
→Which pair shows the correct matching?
Class 12 · Accountancy
→The Bad Debts Reserve is ₹32,000, while the actual bad debts are ₹41,000. The old partners share profits in the ratio 3:2. After adjusting the reserve, what additional amount will be debited to the first partner’s account?
Class 12 · Accountancy
→At the time of admission of a new partner, the Workmen Compensation Reserve is ₹1,20,000 and a claim of ₹45,000 exists against it. The remaining reserve is to be distributed among the old partners in the ratio 5:4:3. How much will be credited to the account of the third old partner?
Class 12 · Accountancy
→A, B and C share profits in the ratio 3:2:1. The Profit and Loss Account has a credit balance of ₹72,000, and Advertisement Suspense Account has a debit balance of ₹30,000. On admission of a new partner, what will be C’s net share?
Class 12 · Accountancy
→If General Reserve is not distributed at the time of admission which statement is most correct?
Class 12 · Accountancy
→Capital Reserve is ₹45000 and Preliminary Expenses are ₹18000. Old partners share 2:1. What is the correct entry for net adjustment?
Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹56000. Book value of investments is ₹280000 and market value is ₹247000. Old partners share 4:3. How much will be credited to the second partner?
Class 12 · Accountancy
→At the time of admission of a new partner, the Workmen Compensation Reserve is ₹84,000, while the actual claim is ₹1,00,000. The old partners share profits and losses in the ratio of 7:5. What amount of the additional loss will be debited to the capital account of the first old partner?
Class 12 · Accountancy
→A, B and C are old partners sharing profits in the ratio 5:3:2. The General Reserve is ₹1,20,000 and the Profit and Loss Account has a debit balance of ₹30,000. What will be the net effect of adjusting these items on B’s Capital or Current Account?
Class 12 · Accountancy
→Through which account does the final adjustment of old reserves and accumulated losses reach old partners?
Class 12 · Accountancy
→A, B and C share profits in the old ratio of 4:3:1. The total accumulated profit is ₹96,000 and the total accumulated loss is ₹32,000. What net amount will be credited to B’s account?
Class 12 · Accountancy
→The old balance sheet shows a debit balance of ₹40,000 in the Profit and Loss Account. A new partner is admitted for a 1/5 share of profits. What will be the new partner’s share in this old debit balance?
Class 12 · Accountancy
→The old balance sheet shows a General Reserve of ₹60,000. A new partner is admitted for a 1/4 share of profits. What will be the new partner’s share in the General Reserve?
Class 12 · Accountancy
→If the related claim is more than the reserve who will bear the excess part?
Class 12 · Accountancy
→If the related claim is less than the reserve who will get the remaining reserve?
Class 12 · Accountancy
→If the related claim against a reserve is zero what is its usual classification in exams?
Class 12 · Accountancy
→The old partners share profits in the ratio 3:4. The balance of Investment Fluctuation Reserve is ₹21,000 and preliminary expenses amount to ₹7,000. On the admission of a new partner, what will be the net effect on the first partner’s Capital Account?
Class 12 · Accountancy
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