1 out of 10
A and B are partners in a firm sharing profits in the ratio of 3:2. C was admitted as a new partner. A surrendered 1/4th of his share and B surrendered 1/3rd of his share in favour of C. The new profit sharing ratio will be
2 out of 10
A, B, C and D are partners. A and B share 2/3rd of profits equally and C and D share remaining profits in the ratio of 3 : 2. Find the profit sharing ratio of A, B, C and D.
3 out of 10
X and Y are partners sharing profits and losses in the ratio of 5:3. On admission, Z brings ₹ 70,000 as cash and ₹ 40,000 against Goodwill. New profit ratio between X,Y and Z is 7:5:4.The Sacrificing ratio of X and Y is:
4 out of 10
X, Y and Z are partners sharing profit in the ratio of 3: 2:1. They agree to admit M into the firm. X, Y and Z agreed to give 1/3rd, 1/6th, 1/9th share of their profit. The share of profit of M will be:
5 out of 10
When a new partner doesn't bring his share of goodwill in cash, the amount is debited to
6 out of 10
A and B are partners in a firm with capital of ₹ 1,80,000 and ₹ 2,00,000. C was admitted for 1/3rd share in profit and brings ₹ 3,40,000 as capital. Calculate the amount of goodwill.
7 out of 10
If, at the time of admission, some profit and loss account balance appears in the books, it will be transferred to:
8 out of 10
If at the time of admission, the revaluation A/c shows a loss, it should be:
10 out of 10
L and M are partners sharing profits in ratio of 3:2 respectively. N was admitted for 1/5th share of profit. Machinery (Book value ₹80,000) would be appreciated by 10% and Building (Book value ₹ 2,00,000) would be depreciated by 20%. Unrecorded debtors of ₹1,250 would be brought into books new and a creditor amounting to ₹ 2,750 died and need not pay anything on this account. What will be profit/loss on revaluation?