Past Year Papers Chapter wise Solutions

Partnership - Death of a Partner

P, Q and R were partners sharing profits in the ratio of 2 : 2 : 1. The firm closes its books on March 31 every year. On June 30, 2017, R died. The following information is provided on R’s death:  (i) Balance in his capital account in the beginning...

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Anuj, Manoj and Disha were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. On 1st April, 2016, the capitals of the partners were : Rs.  3,00,000; Rs.  2,00,000 and Rs.  1,00,000 respectively. The firm closes its books on 31st March every...

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Farhan, Hina and Dolly are partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 1st April, 2016 the capitals of the partners were : Rs.  5,00,000; Rs.  3,00,000 and Rs.  2,00,000 respectively. The firm closes its books on 31st March every year. Dolly...

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Naveen, Kavita and Vishesh were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1. Their Balance Sheet as at 31st March, 2019 was as follows:  Balance Sheet of Naveen, Kavita and Vishesh as at 31st March, 2019  Liabilities  Amount (Rs.)  Assets  Amount...

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Keith, Bina and Veena were partners in a firm sharing profits and losses equally. Their balance sheet as on 31-3-2019 was as follows:  Balance Sheet of Keith, Bina and Veena as on 31-3-2019    Liabilities  Amount (Rs.)  Assets  Amount (Rs.)  Capitals :     Plant and Machinery   2,40,000  Keith 1,50,000    ...

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Shirish, Harit and Asha were partners in a firm sharing profits in the ratio of 5 : 4 : 1. Shirish died on 30th June, 2018. On this date their Balance Sheet was as follows :  Balance Sheet of Shirish, Harit and Asha as at 31st March, 2018  Liabilities  Amount...

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A, B and C were partners in a firm. A died on 31.3.2018 and the Balance Sheet of the firm on that date was as under :  Balance Sheet of A, B and C as at 31.3.2018  Liabilities  Amount (Rs.)  Assets  Amount (Rs.)  Creditors  7,000  Cash at Bank  12,000  General...

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Dinesh, Alvin and Pramod are partners in a firm sharing profits and losses in the ratio of 5:3:2. Their Balance Sheet as at March 31, 2018 was as follows: –  Balance Sheet of Dinesh, Alvin and Pramod  As at 31st March, 2018  Liabilities  Amount (Rs.)  Assets  Amount (Rs.)  Sundry Creditors ...

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Sandeep, Mandeep and Amandeep were partners in a firm sharing profits in the ratio of 2 : 2 : 1. The firm closes its books on 31st March every year. On 30th September, 2016 Mandeep died. The partnership deed provided that on the death of a partner his executors will...

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Furkan, Tanmay and Barkat were partners in a firm sharing profits in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every year. Tanmay died on 31st July, 2019. His executor was entitled to:  (i) His capital Rs.  8,00,000 and his share of...

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Aditi, Kartik and Tina were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. On 31st March, 2019, their Balance Sheet was as follows :  Balance Sheet of Aditi, Kartik and Tina as at 31st March, 2019  Liabilities  Amount (Rs.)  Assets  Amount...

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Giriija, Yatin and Zubin were partners sharing profits in the ratio 5 : 3 : 2. Zubin died on 1st August, 2015. Amount due to Zubin’s executor after all adjustments was Rs.  90,300. The executor was paid Rs.  10,300 in cash immediately and the balance in two equal annual instalments...

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