Anshu and Vihu were partners in a firm sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 was as follows: Balance Sheet of Anshu and Vihu as at 31st March, 2023 Liabilities Amount (₹) Assets Amount (₹) Creditors General ReserveInvestment Fluctuation FundCapitals :Anshu 1,44,000Vihu 80,000 … Read more
Divya and Ekta were partners in a firm sharing profits in the ratio of 3: 1. On 31 March, 2023 they admitted Sona as a new partner for 14 th share in the profits of the firm. Their Balance Sheet on that date was as follows: Balance Sheet of Divya and Ekta as at 31st … Read more
Anikesh and Bhavesh are partners in a firm sharing profits in the ratio of 7:3. Their Balance Sheet as on 31st March, 2023 was as follows: Balance Sheet of Anikesh and Bhavesh as at 31st March, 2023 Liabilities Amount (Rs.) Assets Amount (Rs.) Creditors Outstanding wages General Reserve Capitals: Anikesh Bhavesh 1,20,0001,80,000 60,0009,00015,000 3,00,000 Cash … Read more
Sarah and Varsha were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet as at 31st March, 2023 was as follows: Balance Sheet of Sarah and Varsha as at 31st March, 2023 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals: Sarah VarshaWorkmen’s Compensation FundProvident FundCreditors 60,00050,000 1,10,000 20,0001,20,00050,000 Plant … Read more
Sanju and Manju were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet on 31st March, 2023 was as follows: Balance Sheet of Sanju and Manju as at 31st March, 2023 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals: Sanju ManjuGeneral ReserveCreditors 1,40,0001,20,000 2,60,00040,0001,80,000 Plant and MachineryFurnitureInvestmentsDebtorsLess: provision for … Read more
Shubhi and Revanshi were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet as at 31st March, 2023 was as follows: Balance Sheet of Shubhi and Revanshi as at 31st March, 2023 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals: Shubhi RevanshiGeneral ReserveBank LoanCreditors 60,00032,000 92,00030,00018,00070,000 Fixed AssetsStockDebtorsCash 90,00038,00030,00052,000 … Read more
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 ¼ of his share in favour of C. Calculate B’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. 2,00,000. Mitali brings her share of goodwill premium of Rs. 20,000 in cash, which is entirely credited to Atul’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 ₹ Assets Amount ₹ Outstanding Expenses 3,000 Bank 40,000 Bills Payable 20,000 Stock 60,000 Sundry Creditors … Read more