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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
→Which item will be debited to old partners?
Class 12 · Accountancy
→Which item will be credited to the old partners?
Class 12 · Accountancy
→For what purpose are accumulated profits and losses adjusted on admission?
Class 12 · Accountancy
→If the old accumulated loss is not adjusted before the admission of a new partner, which burden may unfairly fall on the new partner?
Class 12 · Accountancy
→If accumulated profit is not adjusted, the new partner may wrongly get a share in what?
Class 12 · Accountancy
→A and B share profits and losses in the ratio 8:5. The firm has a net accumulated loss of ₹39,000. What amount will be debited to B’s Capital Account for this loss?
Class 12 · Accountancy
→At the time of admission of a new partner, A and B share profits and losses in the ratio of 3:2. If the net accumulated profit is ₹65,000, what amount will be credited to A’s account?
Class 12 · Accountancy
→The reserve fund is ₹70,000 and advertisement suspense expenditure is ₹25,000. What will be the net profit amount for the old partners after adjustment?
Class 12 · Accountancy
→The General Reserve is ₹52,000 and the debit balance of the Profit and Loss Account is ₹12,000. What will be the net accumulated profit?
Class 12 · Accountancy
→What is the effect of writing off an accumulated loss on the capital of the old partners?
Class 12 · Accountancy
→What is the effect on old partners capital when old reserve is distributed?
Class 12 · Accountancy
→What is the normal balance of Preliminary Expenses Account?
Class 12 · Accountancy
→What type of balance does the General Reserve Account have?
Class 12 · Accountancy
→At the admission of a new partner, if the old profit-sharing ratio of the existing partners is not given, in what ratio are they generally assumed to share profits?
Class 12 · Accountancy
→The capital reserve is ₹66,000, and the old profit-sharing ratio of A and B is 7:4. At the time of admission of a new partner, what amount will be credited to A’s Capital Account?
Class 12 · Accountancy
→At the time of admission of a partner, a reserve fund of ₹81,000 is to be distributed among the old partners in their old ratio of 4:4:1. How much will the third old partner receive?
Class 12 · Accountancy
→A, B and C are partners sharing profits in the old ratio of 1:2:3. At the time of reconstitution, the general reserve is ₹60,000. What amount will be credited to C’s account in the old ratio?
Class 12 · Accountancy
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