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Class 12 · Accountancy
→Under fluctuating capital method what is the effect on old partners accounts when Preliminary Expenses are written off?
Class 12 · Accountancy
→Under fixed capital method where will the net profit from General Reserve and Advertisement Suspense be credited?
Class 12 · Accountancy
→Which pair shows the correct classification?
Class 12 · Accountancy
→At the time of admission of a new partner, the Bad Debts Reserve was ₹48,000, whereas actual bad debts were found to be ₹58,000. If the old partners share profits in the ratio 4:1, what amount of the excess loss should be debited to the first partner’s account?
Class 12 · Accountancy
→The Workmen Compensation Reserve is ₹1,44,000, and a claim of ₹60,000 has been admitted against it. The old partners share profits in the ratio 7 : 3 : 2. After adjusting the reserve, what amount will be credited to the second partner’s Capital Account?
Class 12 · Accountancy
→A, B and C share profits in the ratio 5:1:2. At the time of admission of a new partner, the firm’s Profit and Loss Account has a credit balance of ₹96,000 and the Advertisement Suspense Account has a debit balance of ₹40,000. After adjustment in the old partners’ accounts, what net amount will be credited to A’s account?
Class 12 · Accountancy
→If General Reserve is left at admission and kept in the books of the new firm what is the most suitable concern?
Class 12 · Accountancy
→Capital Reserve is ₹54000 and Preliminary Expenses are ₹21000. Old partners share 6:5. What is the correct entry for net adjustment?
Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹63000. Book value of investments is ₹350000 and market value is ₹314000. Old partners share 5:4. How much will be credited to the first partner?
Class 12 · Accountancy
→In a firm, the Workmen Compensation Reserve is ₹72,000, while the Workmen Compensation claim amounts to ₹92,000. The old partners share profits in the ratio 3:2. What amount of the claim exceeding the reserve will be debited to the second partner’s Capital Account?
Class 12 · Accountancy
→A, B and C are old partners sharing profits in the ratio of 4:3:2. The General Reserve is ₹1,35,000 and the Profit and Loss Account has a debit balance of ₹45,000. On the admission of a new partner, what will be the net effect on C’s capital account?
Class 12 · Accountancy
→The adjustment of old reserves and accumulated losses is based on which main principle?
Class 12 · Accountancy
→Where is final adjustment of old reserves and accumulated losses made if partners capitals are fixed?
Class 12 · Accountancy
→A, B and C share profits in the old ratio of 5:3:2. The total accumulated profit is ₹1,50,000 and the total accumulated loss is ₹70,000. At the time of reconstitution, what net amount will be credited to B’s account?
Class 12 · Accountancy
→The old balance sheet shows a debit balance of ₹50,000 in the Profit and Loss Account. A new partner is admitted for a 1/4 share in future profits. What will be the new partner’s share in this accumulated loss of the old period?
Class 12 · Accountancy
→The old balance sheet shows a General Reserve of ₹1,20,000. A new partner is admitted for a 1/5 share in the firm. What share of the General Reserve will be given to the new partner?
Class 12 · Accountancy
→If the related claim is more than the reserve through which account can the excess part be shown?
Class 12 · Accountancy
→If the related claim is less than the reserve who will receive the remaining amount after deducting claim?
Class 12 · Accountancy
→If the related claim against a specific reserve is zero what is its usual treatment?
Class 12 · Accountancy
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