A and B were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted C as a new partner. The new profit sharing ratio between A, B and C was 3 : 2 : 2. A surrendered Â¼ of his share in favour of C. Calculate Bâ€™s Sacrifice. … Read more

Atul and Neera were partners in a firm sharing profits in the ratio of 3 : 2. They admitted Mitali as a new partner. Goodwill of the firm was valued at Rs.Â  2,00,000. Mitali brings her share of goodwill premium of Rs.Â  20,000 in cash, which is entirely credited to Atulâ€™s Capital Account. Calculate the … Read more

Gupta and Sharma were partners in a firm. They wanted to admit two more members in the firm. List the categories of individuals other than minors who cannot be admitted by them. Marks-1, CBSE:2016-17/Main-DL/Q-6 Answer : Back

A and B were partners in a firm sharing profits and losses in the ratio of 3: 1. On 31.03.2022, their Balance Sheet was as follows: Balance Sheet of A and B as at 31st March, 2022 Liabilities Amount â‚¹ Assets Amount â‚¹ Outstanding Expenses 3,000 Bank 40,000 Bills Payable 20,000 Stock 60,000 Sundry Creditors … Read more

Madhav and Girdhuri were partners in a firm sharing profits and Losses in the ratio of 3:1. Their balance sheet as at 31 March, 2022 was as follows Balance sheet of Madhav and Girdhari as on 31 March, 2022 Liabilities Amount â‚¹ Assets Amount â‚¹ Capitals: Machinery 4,70,000 Madhav            3,00,000 Investment 1,10,000 Girdhari            … Read more

Yuv and Veer were partners in a firm sharing profits and losses in the ratio of 3 : 1. Their Balance Sheet as on 31st March, 2022 was as under: Balance Sheet of Yuv and Veer as at 31st March, 2022 Liabilities Amountâ‚¹ Assets Amountâ‚¹ Creditors 41,000 Plant and Machinery 60,000 General Reserve 80,000 Building … Read more

X and Y were partners in the profit-sharing ratio of 3: 2. Their balance sheet as at March 31, 2022 was as follows: Balance Sheet as at March 31, 2022 Liabilities Amount â‚¹ Assets Amount â‚¹ Creditors 56,000 Plant and Machinery 70,000 General Reserve 14,000 Buildings 98,000 Capitals: Stock 21,000 X            1,19,000 Debtors            … Read more

Rajinder and Vijay were partners in a firm sharing profits in the ratio 3:2. On 31st March 2023 their balance sheet was as follows: Liabilities Amountâ‚¹ Assets Amountâ‚¹ Capital Accounts: Fixed Assets (Tangible) 3,60,000 Rajinder                     3,00,000 Goodwill 50,000 Vijay                   &nbsp       1,50,000 4,50,000 Investments 40,000 Current Accounts: Stock 74,000 Rajinder                      50,000 Debtors                  1,00,000 Vijay                            10,000 60,000 Less: … Read more

Ashish and Vishesh were partners sharing profits and losses in the ratio of 3:2. Their Balance Sheet as at 31st March, 2022 was as under: Balance Sheet of Ashish and Vishesh as at 31st March, 2022 Liabilities Amountâ‚¹ Assets Amountâ‚¹ Creditors 30,000 Cash at Bank 50,000 Outstanding Electricity Bill 20,000 Debtors 80,000 Capitals: Less: Provision … Read more

Atul and Geeta were partners sharing profits in the ratio 3 : 2. Ira was admitted into the firm for l/4th share of profits. Ira brought â‚¹40,000 as her capital. The capitals of Atul and Geeta after all adjustments relating to goodwill, revaluation of assets and liabilities etc, are â‚¹60,000 and â‚¹40,000 respectively. It is … Read more