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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
→At the time of admission of a new partner, the old partners share profits in the ratio 2:3. The General Reserve is ₹50,000 and the distributable balance of the Workmen Compensation Reserve is ₹25,000. What total amount will be credited to the account of the second partner?
Class 12 · Accountancy
→Profit and Loss debit balance ₹54000 was written off in capital ratio 5:4 instead of old ratio 2:1. What was the correct effect on the second partner?
Class 12 · Accountancy
→Profit and Loss debit balance ₹54000 was written off in capital ratio 5:4 instead of old ratio 2:1. What was the effect on the second partner?
Class 12 · Accountancy
→In a firm, a general reserve of ₹54,000 was distributed in the capital ratio 5:4 instead of the old profit-sharing ratio 2:1. Due to this error, how much less or more did the first partner receive than the correct amount?
Class 12 · Accountancy
→Which statement is correct when a Reserve Fund has separate investments shown against it?
Class 12 · Accountancy
→If both accumulated profits and accumulated losses are given what is better to do first?
Class 12 · Accountancy
→Insurance Reserve is ₹30000 and claim is ₹42000. How will the excess claim be treated?
Class 12 · Accountancy
→The old Balance Sheet shows an Insurance Reserve of ₹44,000. If the insurance claim amounts to ₹16,000 and A and B share profits in their old ratio of 5:6, what will be B’s share of the remaining Insurance Reserve?
Class 12 · Accountancy
→Three partners share profits and losses in the ratio 1:4:5. At the time of reconstitution, the General Reserve is ₹80,000 and Advertisement Suspense Expenditure is ₹30,000. What net amount will be credited to the second partner’s Capital Account?
Class 12 · Accountancy
→A and B share profits and losses in the ratio of 3:2. At the time of admission, preliminary expenses are ₹25,000 and the debit balance of the Profit and Loss Account is ₹15,000. If these items are written off in the old ratio, what total amount will be debited to A’s Capital Account?
Class 12 · Accountancy
→A and B share old profits in 6:4. General reserve ₹70000 and Profit and Loss credit balance ₹30000 are wrongly shared equally. How much less or more did A receive?
Class 12 · Accountancy
→Accumulated loss was shared in capital ratio instead of old ratio. What should be the correct basis for correction?
Class 12 · Accountancy
→If old profits are adjusted in sacrificing ratio instead of old ratio what is the error?
Class 12 · Accountancy
→At the time of admission of a new partner, the Contingency Reserve is ₹90,000, out of which ₹52,000 is required to cover an expected liability. The old partners share profits in the ratio 3:2. What will be the first partner’s share of the balance?
Class 12 · Accountancy
→The Dividend Equalisation Reserve is ₹48,000 and the debit balance of the Profit and Loss Account is ₹18,000. If A and B share profits in the ratio 1:2, what will be the net effect in B’s account?
Class 12 · Accountancy
→A partnership firm has a Reserve Fund of ₹54,000 and a Capital Reserve of ₹36,000. At the time of admission of a new partner, if the old partners A and B share profits in the ratio of 2:1, what total amount will be credited to B’s account?
Class 12 · Accountancy
→Profit and Loss debit balance ₹33000 was left in the new balance sheet. If there was no special instruction what was the correct treatment?
Class 12 · Accountancy
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