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Class 12 · Accountancy
→The Workmen Compensation Reserve is ₹75,000, whereas the actual claim is ₹92,000. At the time of admission of a partner, which account will be debited for the excess claim, and by what amount?
Class 12 · Accountancy
→At the time of admission of a new partner, A, B and C share profits in the old ratio of 2:3:5. The general reserve is ₹1,50,000 and preliminary expenses are ₹30,000. What net amount will be credited to C’s capital or current account?
Class 12 · Accountancy
→X and Y share profits and losses in the ratio of 7:5. On the admission of a new partner, a Reserve Fund of ₹84,000 is to be distributed in the old ratio, and Advertisement Suspense of ₹36,000 is to be written off. What net amount will be credited to Y’s Capital Account?
Class 12 · Accountancy
→A and B share old profits in the ratio of 5:3. The General Reserve is ₹96,000 and the Profit and Loss Account has a debit balance of ₹24,000. On the admission of a new partner, what will be the net effect on A’s Capital Account?
Class 12 · Accountancy
→A, B and C share profits in the ratio 4:3:2. The Contingency Reserve is ₹90,000, and a liability of ₹18,000 is to be adjusted against it. How much of the remaining reserve will be credited to B’s account?
Class 12 · Accountancy
→If old partners capital increases after reserve distribution what does it show?
Class 12 · Accountancy
→Old partners share 2:3. Profit and Loss debit balance is ₹25000 and Advertisement Suspense is ₹15000. What is the total accumulated loss?
Class 12 · Accountancy
→A and B share profits in the ratio of 5:1. The General Reserve is ₹48,000. If the entire amount is distributed in the new profit-sharing ratio when a new partner is admitted, what is the main error?
Class 12 · Accountancy
→When both General Reserve and Capital Reserve exist what is their usual treatment?
Class 12 · Accountancy
→Special Reserve is ₹64000 and related liability is ₹49000. What amount will be distributed among old partners?
Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹22000 and market value of investment equals book value. What is the treatment of the reserve?
Class 12 · Accountancy
→Old partners share 1:1:2. Profit and Loss credit balance is ₹60000 and Preliminary Expenses are ₹20000. What is the third partner net credit?
Class 12 · Accountancy
→In the entry for distributing accumulated loss among old partners which account will be credited?
Class 12 · Accountancy
→Why is General Reserve Account debited in the entry for distributing reserve?
Class 12 · Accountancy
→If General Reserve is not closed what problem may arise in the new firm balance sheet?
Class 12 · Accountancy
→Old partners A and B share profits and losses in the ratio of 8:7. The firm has a Capital Reserve of ₹45,000 and a debit balance of ₹15,000 in the Advertisement Suspense Account. On the admission of a new partner, what will be the net effect on Partner A’s capital account?
Class 12 · Accountancy
→Old partners share 3:4. General Reserve is ₹77000 and Profit and Loss debit balance is ₹28000. What is the second partner net credit?
Class 12 · Accountancy
→Bad Debts Reserve is ₹18000 and actual bad debts are ₹25000. What is the extra loss?
Class 12 · Accountancy
→A B and C are old partners sharing 2:5:3. Bad Debts Reserve is ₹50000 and additional bad debts are ₹20000. What amount will be distributed among old partners?
Class 12 · Accountancy
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