Past Year Papers Chapter wise Solutions
Retirement
Prem, Kumar and Aarti were partners sharing profits in the ratio of 5 : 3 : 2. Their Balance Sheet as at 31st March, 2019 was as under: Balance Sheet of Prem, Kumar and Aarti as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.)...
Read MoreA, B and C were partners in a firm. Their Balance Sheet as at 31st March, 2019 was as follows: Balance Sheet of A, B and C as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Bill payable 20,000 Bank 20,000 Creditors 40,000 Furniture 28,000 General...
Read MoreA, B & C were partners in a firm sharing profits & losses in proportion to their fixed capitals. Their Balance Sheet as at March 31, 2017 was as follows: Balance Sheet as at March 31, 2017 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals: Bank 21,000 A ...
Read MoreAtiv, Meha and Nupur were partners sharing profits and losses in the ratio of 5 : 3 : 2. On 31-3-2016, their Balance Sheet was as under: Liabilities Amount (Rs.) Assets Amount (Rs.) Trade creditors 26,500 Bank 25,000 Employees’ Provident Fund 23,500 Debtors 30,000 Ativ’s capital 1,00,000 Stock 55,000 Meha’s...
Read MoreKanika, Disha and Kabir were partners sharing profits in the ratio of 2 : 1 : 1. On 31-3-2016, their Balance Sheet was as under : Liabilities Amount (Rs.) Assets Amount (Rs.) Trade creditors 53,000 Bank 60,000 Employees’ Provident Fund 47,000 Debtors 60,000 Kanika’s capital 2,00,000 Stock 1,00,000 Disha’s capital...
Read MoreAnita, Gaurav and Sonu were partners in a firm sharing profits and losses in proportion to their capitals. Their Balance Sheet as at 31st March, 2019 was as follows: Balance Sheet of Anita, Gaurav and Sonu as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals : Land and Building 5,00,000 Anita 2,00,000 Investments 1,20,000 Gaurav...
Read MoreGita, Radha and Garv were partners in a firm sharing profits and losses in the ratio of 3:5:2. On 31st March, 2019, their balance sheet was as follows : Balance Sheet of Gita, Radha & Garv as on 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Sundry...
Read MoreLisa, Monika and Nisha were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. On 31st March, 2019, their Balance Sheet was as follows: Balance Sheet of Lisa, Monika and Nisha as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.)...
Read MoreAkul, Bakul and Chandan were partners in a firm sharing profits in the ratio of 2 : 2 : 1. On 31st March, 2018 their Balance Sheet was as follows : Balance Sheet of Akul, Bakul and Chandan as on 31-3-2018 Liabilities Amount (Rs. ) Assets Amount (Rs....
Read MoreMohan, Vinay and Nitya were partners in a firm sharing profits and losses in the proportion of ½, 1/3 and 1/6 respectively. On 31st March, 2018, their Balance Sheet was as follows: Balance Sheet of Mohan, Vinay and Nitya as at 31st March, 2018 Liabilities Amount (Rs.) Assets Amount (Rs.)...
Read MoreG, E and F were partners in a firm sharing profits in the ratio of 7 : 2 : 1. The Balance Sheet of the firm as at 31st March, 2018, was as follows: Balance Sheet of G, E and F as at 31st March, 2018 Liabilities Amount (Rs.) Assets...
Read MoreN, S and B were partners in a firm sharing profits and losses in proportion of ½, 1/6, and 1/3 respectively. The Balance Sheet of the firm as at 31st March, 2017 was as follows: Balance Sheet of N, S and B as at 31.3.2017 Liabilities Amount (Rs.) Assets Amount...
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