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Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹50000. Book value of investments is ₹200000 and market value is ₹182000. What amount will be distributed among old partners?
Class 12 · Accountancy
→Workmen Compensation Reserve is ₹42000 and claim is also ₹42000. What amount will go to old partners?
Class 12 · Accountancy
→Workmen Compensation Reserve is ₹52000 and claim is ₹65000. What is the extra loss?
Class 12 · Accountancy
→Workmen Compensation Reserve is ₹95000 and claim is ₹35000. What amount will be distributed among old partners?
Class 12 · Accountancy
→Workmen Compensation Reserve is ₹76000 and there is no claim. What happens on admission?
Class 12 · Accountancy
→The Profit and Loss Account of a partnership firm has a debit balance of ₹36,000. The old partners A and B share profits and losses in the ratio of 7:5. At the time of reconstitution, what amount will be debited to partner A’s Capital Account?
Class 12 · Accountancy
→Which is the correct journal entry for closing General Reserve?
Class 12 · Accountancy
→Why are reserves distributed in old profit sharing ratio at admission?
Class 12 · Accountancy
→At the time of a new partner’s admission, A, B and C are old partners sharing profits in the ratio 2:3:4. The Reserve Fund is ₹108000. What amount will be credited to C’s Capital Account?
Class 12 · Accountancy
→Profit and Loss Account has credit balance ₹45000. Old partners A and B share 4:1. What is B share?
Class 12 · Accountancy
→At admission General Reserve is ₹96000. Old partners A and B share 5:3. How much will be credited to A?
Class 12 · Accountancy
→If Insurance Reserve appears in the old balance sheet and no claim is pending what is its usual treatment on admission?
Class 12 · Accountancy
→At the time of admission where is the final effect of old reserves and old losses shown?
Class 12 · Accountancy
→At the time of admission of a new partner, accumulated loss was distributed among all partners, including the new partner. What is the main accounting error?
Class 12 · Accountancy
→If accumulated profit is distributed in new ratio what should be the correct basis for correction?
Class 12 · Accountancy
→A firm has a Contingency Reserve of ₹50000, against which an expected liability of ₹38000 is estimated. On the admission of a new partner, what balance of the reserve will be distributed among the old partners?
Class 12 · Accountancy
→How is Contingency Reserve usually treated on admission if there is no specific liability?
Class 12 · Accountancy
→At the time of reconstitution, the Dividend Equalisation Reserve is ₹24,000. A and B are the old partners and share profits equally. How much will each partner receive from the reserve?
Class 12 · Accountancy
→A partnership firm has a general reserve of ₹36,000. The old profit-sharing ratio of A and B is 5:4. On the admission of a new partner, what amount will be credited to B’s Capital Account as his share of the general reserve?
Class 12 · Accountancy
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