Raman and Rohit were partners in a firm sharing profits and losses in the ratio of 2 : 1. On 31st March, 2018, their Balance Sheet was as follows : Balance Sheet of Raman and Rohit as at 31st March, 2018 Liabilities Amount (Rs.) Assets Amount (Rs.) Capital: Plant and Machinery 1,75,000 … Read more
Leena and Rohit are partners in a firm sharing profits in the ratio of 3 : 2. On 31st March, 2018, their Balance Sheet was as follows : Balance Sheet of Leena and Rohit as at 31st March, 2018 Liabilities Amount (Rs.) Assets Amount (Rs.) Sundry Creditors 80,000 Cash 42,000 Bills Payable 38,000 Debtors … Read more
Sanjana and Alok were partners in a firm sharing profits and losses in the ratio 3:2. On 31st March, 2018 their Balance Sheet was as follows: Balance Sheet of Sanjana and Alok as on 31-3-2018 Liabilities Amount (Rs. ) Assets Amount (Rs. ) Creditors 60,000 Cash 1,66,000 Workmen’s Compensation Fund 60,000 Debtors … Read more
On 31st March, 2019 the Balance Sheet of Madan and Mohan who share profits and losses in the ratio of 3 : 2 was as follows : Balance Sheet of Madan and Mohan as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Creditors 28,000 Cash at Bank 10,000 General Reserve … Read more
Raman and Aman were partners in a firm and were sharing profits in 3 : 1 ratio. On 31-3-2019 their balance sheet was as follows: Balance Sheet of Raman and Aman as on 31-3-2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Provision for bad debts 7,000 Bank 24,000 Outstanding Expenses 18,000 Bills Receivable 80,000 Bills Payable … Read more
Ashish and Nimish were partners in a firm sharing profits and losses in the ratio of 3:2. On 31st March, 2019 their Balance Sheet was as follows: Balance Sheet of Ashish and Nimish as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals : Plant and Machinery 2,90,000 Ashish … Read more
Badal and Bijli were partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2019 was as follows: Balance Sheet of Badal and Bijli as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals : Building 1,50,000 Badal 1,50,000 … Read more
T and N were partners in a firm. On 31st March, 2018 they decided to admit M as a new partner. On 31st March, 2018 the Balance Sheet of T and N stood as follows: Balance Sheet of T and N as at 31.3.2018 Liabilities Amount (Rs.) Assets Amount (Rs.) Creditors 18,000 Cash at Bank … Read more
A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. D was admitted into the firm with 1/4th share in profits, which he got 3/16th from A and 1/16th from B. The total capital of the firm as agreed upon was Rs. 1,20,000 and D … Read more
Kabir and Farid are partners in a firm sharing profits in the ratio of 3:1 on 1-4-2019 they admitted Manik into partnership for 1/4th share in the profits of the firm. Manik brought his share of goodwill premium in cash. Goodwill of the firm was valued on the basis of 2 years purchase of last … Read more