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Class 12 · Accountancy
→Two old partners share profits in equal proportions. At the time of admission of a new partner, revaluation of assets results in a loss of ₹5,000. How much of this loss will be allocated to each old partner?
Class 12 · Accountancy
→Two old partners share profits in equal proportions. At the time of admission of a new partner, revaluation of assets results in a profit of ₹7000. What amount of this profit will be credited to each old partner’s account?
Class 12 · Accountancy
→The value of land increased by ₹45,000, while the value of furniture decreased by ₹17,000. What will be the net result of revaluation of assets?
Class 12 · Accountancy
→A and B are partners sharing profits in the ratio of 5:2. At the time of admission of a new partner, revaluation of assets results in a loss of ₹49,000. How much will be debited to A’s Capital Account?
Class 12 · Accountancy
→What is the process of bringing assets to new values at the time of admission called?
Class 12 · Accountancy
→What is the purpose of revaluing assets on the admission of a partner?
Class 12 · Accountancy
→On which side of revaluation account are decrease in assets and increase in liabilities recorded?
Class 12 · Accountancy
→On which side of revaluation account are increase in assets and decrease in liabilities recorded?
Class 12 · Accountancy
→Which account is prepared to show new values of assets and liabilities on admission of a new partner?
Class 12 · Accountancy
→After admission of a new partner assets should be shown at what value?
Class 12 · Accountancy
→Why are assets revalued at the time of admission of a partner?
Class 12 · Accountancy
→Purchase price of a business is (₹2200000). Total assets are (₹2800000), outside liabilities are (₹850000), and preliminary expenses to be written off are (₹50000). What is purchased goodwill?
Class 12 · Accountancy
→Purchase price of a business is (₹1850000). Assets are (₹2400000), outside liabilities are (₹700000), and accumulated loss is (₹50000). What is purchased goodwill?
Class 12 · Accountancy
→The purchase price of a business is ₹12,50,000. Its assets are ₹15,00,000 and outside liabilities are ₹4,00,000. What is the purchased goodwill?
Class 12 · Accountancy
→At the time of acquiring a business, its net assets are valued at ₹7,00,000 and the purchase price is ₹8,50,000. What is the value of purchased goodwill?
Class 12 · Accountancy
→A firm has total assets of ₹8,40,000 and outside liabilities of ₹2,60,000. What is its capital employed?
Class 12 · Accountancy
→Why are outside liabilities deducted from total assets to calculate capital employed?
Class 12 · Accountancy
→What is the usual effect of poor customer service on a business’s goodwill?
Class 12 · Accountancy
→Assets are ₹750000 and outside liabilities are ₹180000. What will be the actual capital?
Class 12 · Accountancy
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