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Class 12 · Accountancy
→The old balance sheet shows a debit balance of ₹72,000 in the Profit and Loss Account. A new partner is admitted for a 1/3 share. What will be the new partner’s share in this old accumulated loss?
Class 12 · Accountancy
→The old balance sheet shows a General Reserve of ₹1,50,000. A new partner is admitted for a 1/6 share of profits. What amount of the General Reserve will be credited to the new partner?
Class 12 · Accountancy
→If the related claim is more than the reserve how can the excess part be treated?
Class 12 · Accountancy
→If the related claim is less than the reserve how will the balance be distributed?
Class 12 · Accountancy
→If there is no related claim against a specific reserve who will get the entire reserve?
Class 12 · Accountancy
→The profit-sharing ratio of two old partners in a firm is 6:5. The balance of Investment Fluctuation Reserve is ₹44,000, while Preliminary Expenses of ₹11,000 are still un written. On the admission of a new partner, what will be the net effect on the capital account of the second old partner?
Class 12 · Accountancy
→Old partners share profits in the ratio 5:4. General Reserve is ₹99,000 and the distributable balance of Workmen Compensation Reserve is ₹27,000. How much total will be credited to the first partner?
Class 12 · Accountancy
→A Profit and Loss debit balance of ₹90,000 was written off in the capital ratio 7:8 instead of the old ratio 4:1. What was the effect on the second partner?
Class 12 · Accountancy
→General Reserve ₹90000 was distributed in capital ratio 7:8 instead of old ratio 4:1. How much less or more did the first partner receive?
Class 12 · Accountancy
→Which statement is correct when separate investment exists against Reserve Fund?
Class 12 · Accountancy
→If the General Reserve is ₹95,000 and the debit balance of the Profit and Loss Account is ₹1,10,000, what is the first conclusion after adjustment?
Class 12 · Accountancy
→A firm's Insurance Reserve is ₹44,000, whereas the insurance claim admitted is ₹62,000. At the time of admission of a partner, what will be the accounting treatment of the excess claim amount?
Class 12 · Accountancy
→At the time of a partner’s admission, the Insurance Reserve is ₹68,000 and the insurance claim is ₹26,000. If the remaining reserve is distributed between the old partners in the ratio 2:5, how much will the second partner receive?
Class 12 · Accountancy
→Three partners share old profits in the ratio 3:4:5. General Reserve is ₹180,000 and Profit and Loss debit balance is ₹60,000. What is the third partner’s net credit?
Class 12 · Accountancy
→Preliminary Expenses are ₹42000 and Advertisement Suspense Expenditure is ₹18000. In old ratio 7:5 how much total will be debited to the first partner?
Class 12 · Accountancy
→Profit and Loss debit balance ₹66000 was shared equally instead of old ratio 4:7. What was the effect on the first partner?
Class 12 · Accountancy
→A and B share old profits in the ratio 9:6. General Reserve ₹105,000 and Profit and Loss credit balance ₹45,000 were wrongly shared equally. How much less or more did A receive?
Class 12 · Accountancy
→At the time of a partner’s admission, what is the main accounting error in adjusting accumulated loss by including the new partner?
Class 12 · Accountancy
→Why is it wrong to distribute accumulated profit in the new profit sharing ratio?
Class 12 · Accountancy
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