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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
→A firm has a Workmen Compensation Reserve of ₹96,000, while the actual workmen compensation claim is ₹60,000. At the time of admission of a new partner, how much of the balance reserve will be credited to the second old partner if the old partners’ profit-sharing ratio is 5:3?
Class 12 · Accountancy
→A and B are partners sharing profits in the old ratio of 7:3. The General Reserve is ₹1,00,000 and the Profit and Loss Account has a debit balance of ₹30,000. At the time of admission of a new partner, what will be the net effect on A’s capital account?
Class 12 · Accountancy
→What is the most common exam mistake in adjustment of reserves at admission?
Class 12 · Accountancy
→On the admission of a new partner, old partners A and B share profits and losses in the ratio of 13:7. The General Reserve is ₹80,000, and Preliminary Expenses of ₹20,000 are to be written off. What will be the net credit to the Capital Account of old partner A?
Class 12 · Accountancy
→Why does new partner account not appear in the entry for distributing accumulated profits?
Class 12 · Accountancy
→Which statement is correct for Investment Fluctuation Reserve when investment loss is less than the reserve?
Class 12 · Accountancy
→A, B and C are partners sharing profits in the ratio 2:3:5. The firm has a Capital Reserve of ₹100000 and a debit balance of ₹40000 in the Profit and Loss Account. What net amount will be credited to B’s account?
Class 12 · Accountancy
→If old partners share 5:3 and reserve ₹80000 is wrongly distributed equally which partner received less and by how much?
Class 12 · Accountancy
→Why is a reserve account debited while closing its credit balance?
Class 12 · Accountancy
→A, B and C share profits in the ratio 3:3:2. The General Reserve is ₹64,000 and the Advertisement Suspense Account has a balance of ₹24,000. What will be the net credit to C’s account?
Class 12 · Accountancy
→Special Reserve is ₹48000 and there is no related claim. What is the correct expert level conclusion?
Class 12 · Accountancy
→Which entry is correct for distributing accumulated loss ₹42000 among old partners in old ratio?
Class 12 · Accountancy
→On the admission of a new partner, the Bad Debts Reserve is ₹30,000 and actual bad debts amount to ₹12,000. The old partners share profits in the ratio 7:3. What amount will be credited to the first partner’s Capital Account?
Class 12 · Accountancy
→On admission of a new partner what does distributing old reserves make clear for the new firm?
Class 12 · Accountancy
→The Profit and Loss Account has a debit balance of ₹24,000, and Preliminary Expenses amount to ₹16,000. The old partners share profits in the ratio 3:5, with the second partner holding a 5/8 share. What total debit will be charged to the second partner at the time of reconstitution?
Class 12 · Accountancy
→If General Reserve is distributed in capital ratio while profit ratio is different why is it wrong?
Class 12 · Accountancy
→A, B and C share profits and losses in the ratio 4:4:2. At the time of reconstitution, the Contingency Reserve is ₹50,000, whereas the actual liability is determined to be ₹20,000. After adjusting the actual liability, how much of the remaining amount will be credited to A’s account?
Class 12 · Accountancy
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