Bhumi and Chavi were partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Aditi in the firm on 1st April, 2022. On that date their Balance Sheet was as follows: Balance Sheet of Bhumi and Chavi as at 1st April, 2022 Liabilities Amount ₹ Assets Amount ₹ … Read more
Rohit and Mohit were partners in a firm sharing profits and losses in the ratio of 3 : 2. Rahul was admitted into partnership for 1/3rd share in profits. Goodwill of the firm was valued at ₹30,000. Rahul brought ₹40,000 as capital and ₹5,000 out of his share of goodwill premium in cash. At the … Read more
On 31st March, 2022 the Balance Sheet of partners A and B, who were sharing profits in the ratio of 3 : 2 was as follows: Balance Sheet of A and B as at 31st March, 2022 Liabilities Amount ₹ Assets Amount ₹ Creditors 30,000 Cash at Bank 20,000 Investment Fluctuation Fund 12,000 Debtors 85,000 … Read more
Vanshika and Shikha were partners in a firm with capitals of ₹1,00,000 and ₹80,000 respectively. They admitted Nisha on 1st April, 2022 as a new partner for 1/4th share in the future profits of the firm. Nisha brought ₹90,000 as her capital. Nisha acquired her share equally from Vanshika and Shikha. Calculate the value of … Read more
R and S were partners in a firm sharing profits and losses in the ratio of 3: 2. Their Balance Sheet as at 31st March,2020 was as follows: Balance Sheet of R and S as at 31st March, 2020 Liabilities Amount ₹ Assets Amount ₹ Capitals: Cash at Bank 10,000 R 60,000 Debtors 65,000 S … Read more
Sunaina and Tamanna are partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet as at 31st March, 2020 stood as follows: Balance Sheet Dr. Cr. Liabilities Amount (₹) Assets Amount (₹) Capital Accounts: Sunaina Tamanna Current Accounts: Sunaina Tamanna General Reserve Workmen’s Compensation Reserve Creditors 60,000 80,000 10,000 … Read more
On 31st March, 2019 the Balance Sheet of A and B, who were sharing profits in the ratio of 3 : 2 was as follows : Balance Sheet of A and B as at 31st March, 2019 Liabilities Amount ₹ Assets Amount ₹ Creditors 30,000 Cash at Bank 20,000 Investment Fluctuation Fund 12,000 Debtors 85,000 … Read more
W and R are partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as on 31st March, 2016 was as follows : Balance Sheet of W and R as on 31-3-2016 Liabilities Amount (Rs.) Assets Amount (Rs.) Sundry Creditors 20,000 Cash 12,000 Provision for Bad Debts 2,000 Debtors … Read more
P & K were partners in a firm. On March 31, 2017 their Balance Sheet was as follows: Balance Sheet as at March 31, 2017 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals:  Bank 18,000   P   3,00,000  Stock 19,000   K  2,00,000 5,00,000 Debtors      … Read more
On 31st March 2017, the Balance Sheet of Abhir and Divya, who were sharing profits in the ratio of 3 : 1 was as follows : Balance Sheet of Abhir and Divya as on 31st March 2017 Liabilities Amount (Rs.) Assets Amount (Rs.) Creditors 2,20,000 Cash at Bank 1,40,000 Employees’ Provident Fund 1,00,000 Debtors  … Read more
