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Class 12 · Accountancy
→At the time of admission the general reserve shown in old balance sheet relates to which period?
Class 12 · Accountancy
→If Dividend Equalisation Reserve appears in the old balance sheet what is its usual treatment on admission?
Class 12 · Accountancy
→What is the purpose of adjusting accumulated profits and losses at the time of admission?
Class 12 · Accountancy
→A firm has a general reserve of ₹48,000, and the old profit-sharing ratio of partners A and B is 5:1. On admission of a new partner, what amount of the general reserve will be credited to B’s account?
Class 12 · Accountancy
→Which item is generally debited to old partners?
Class 12 · Accountancy
→Which item is generally credited to old partners?
Class 12 · Accountancy
→At the time of admission of a new partner, in which ratio is the debit balance of the Profit and Loss Account distributed among the old partners?
Class 12 · Accountancy
→On admission credit balance of Profit and Loss Account will be distributed in which ratio?
Class 12 · Accountancy
→At the time of admission of a new partner, in what ratio will the general reserve be distributed among the old partners if the new ratio is 3:2:1 and the old ratio is 4:1?
Class 12 · Accountancy
→Generally what is the new partner's share in old reserve amount?
Class 12 · Accountancy
→If old accumulated loss is not adjusted what wrong effect may occur?
Class 12 · Accountancy
→If accumulated profits or general reserve are not adjusted in the old partners’ accounts before the admission of a new partner, what problem will arise?
Class 12 · Accountancy
→A and B share profits and losses in the ratio of 7:3. The net accumulated loss is ₹40,000. At the time of reconstitution, how much will be debited to B’s capital account?
Class 12 · Accountancy
→A and B share profits and losses in the ratio 3:2. At the time of reconstitution, net accumulated profit of ₹50,000 is to be distributed in the old ratio. How much will be credited to A?
Class 12 · Accountancy
→At the time of admission of a new partner, the General Reserve is ₹60,000 and the Advertisement Suspense Account has a balance of ₹18,000. What will be the net credit to the old partners’ capital accounts?
Class 12 · Accountancy
→The old balance sheet shows a general reserve of ₹75,000 and a debit balance of ₹15,000 in the Profit and Loss Account. What is the net accumulated profit based on these items?
Class 12 · Accountancy
→Which account is closed when accumulated loss is written off?
Class 12 · Accountancy
→Which account is closed when accumulated profit is distributed?
Class 12 · Accountancy
→Why are the old partners’ capital accounts debited when accumulated loss is written off during the reconstitution of a partnership?
Class 12 · Accountancy
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