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प्रश्न
Write the word/term or phrase which can substitute the following statement.
Change in the relationship between the partners.
उत्तर
Reconstitution of a partnership
Explanation: Change in the relationship between the partners is regarded as reconstitution of a partnership firm. The reconstitution of partnership firm is said to occur when there exists a change in profit sharing ratio at the time of admission, retirement or death of a partner.
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संबंधित प्रश्न
Answer in one sentence only.
What is meant by admission of partner?
Answer in one sentence only.
What does the excess of debits over credits in profit and loss adjustment account indicate?
Answer in one sentence only.
In what proportion is general reserve distributed amongst the old partners?
Write the word/term or phrase which can substitute the following statement.
Excess actual capital over proportionate capital.
Write the word/term or phrase which can substitute the following statement.
Profit and Loss Account appearing on the asset side of a balance sheet.
Anuj and Eeshan are two partners sharing profits and losses in the ratio of 3:2. They decided to admit Aaroh for 1/5th share, the new profit sharing ratio will be ____________
Write a word/phrase/term which can substitute the following statement.
The ratio in which general reserve is distributed to the old partners.
Write a word/phrase/term which can substitute the following statement.
The proportion in which old partners make a sacrifice.
State True or False with reason.
A new partner can bring capital in cash or kind.
State True or False with reason.
Revaluation profit is distributed among all partners including new partner.
State True or False with reason.
The new ratio minus old ratio is equal to the sacrifice ratio.
State True or False with reason.
Usually, when a new partner is admitted to the firm there will be an increase in the capital of the firm.
What is the sacrifice ratio?
What do you mean by raising the goodwill at the time of admission of a new partner?
When is the ratio of sacrifice calculated for the distribution of goodwill?
What is the treatment of accumulated profits at the time of admission of a partner?
Excess of proportionate capital over actual capital represents _________.
The profit or loss on revaluation of assets and liabilities is transferred to the capital account of ___________.
Write a word/term/phrase as a substitute for the following statement:
Old Ratio less New Ratio.
Anika and Riddhi are partners sharing profits in the ratio of 5:1. They decide to admit Sanika in the firm for `1/5`th share. calculate the sacrifice ratio of Anika and Riddhi.
Apte and Bhate are sharing profits and losses in the ratio 3 : 2, if Kate is admitted at `1/4` share then calculate new profit sharing ratio.
Answer in one sentense.
What is sacrifice ratio?
Answer in one sentence.
What is the sacrifice ratio?
Jainam and Moksh are equal partners in the business. Their Balance Sheet as on 31st March, 2023 stood as under:
| Balance Sheet as on 31st March, 2023 | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Sundry Creditor | 1,35,000 | Cash in Bank | 93,000 | ||
| Capitals: | Debtors | 46,500 | 45,000 | ||
| Jain am | 67,500 | 1,12,500 | Less: R.D.D | 1,500 | |
| Moksh | 45,000 | Building | 82,500 | ||
| General Reserve | 27,000 | Machinery | 36,000 | ||
| Bills Receivable | 18,000 | ||||
| 2,74,500 | 2,74,500 | ||||
They decided to admit Prem on 1st April, 2023 on the following terms:
(1) The Machinery and Building be depreciated by 10%. Reserve for Doubtful debts to be increased by ₹ 7,500.
(2) Bills receivable are taken over by Jainam at the discount of 10%.
(3) Prem should bring ₹ 90,000 as capital for his I/4th share in future profits.
(4) The capital accounts of all the partners be adjusted in proportioning in the new profit sharing ratio by opening current accounts of the partners.
Prepare Profit and Loss Adjustment A/c, Partners' Capital A/c and Balance Sheet of new firm.
Sacrifice ratio = ______ - ______
Hemant and Shiva were in partnership sharing profits and losses in the ratio of 3 : 1.
| Balance Sheet as on 31st March, 2023 | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Creditors | 84,000 | Land and Building | 52,500 | ||
| General Reserve | 8,400 | Furniture | 4,200 | ||
| Capital A/cs: | Stock | 42,000 | |||
| Hemant | 63,000 | 96,600 | Debtors | 42,000 | |
| Shiva | 33,600 | Bills Receivable | 27,300 | ||
| Cash at Bank | 21,000 | ||||
| 1,89,000 | 1,89,000 | ||||
They decided to admit Aum on 1st April, 2023 on the following terms:
(1) He should be given I/5th share in profit and for that he brought in ₹ 42,000 as capital through RTGS.
(2) Goodwill should be raised at ₹ 42,000.
(3) Appreciate Land and Building by 20%.
(4) Furniture and Stock are to be depreciated by 10%.
(5) The capitals of all partners should be adjusted in their new profit sharing ratio through Bank A/c.
Prepare necessary accounts and Balance Sheet of new firm.
Answer in one sentence.
What is sacrifice ratio?
What is the sacrifice ratio?
Answer in one sentence.
What is sacrifice ratio?
Answer in one sentence.
What is sacrifice ratio?
Answer in one sentence.
What is the sacrifice ratio?
Answer in one sentence.
What is sacrifice ratio?
Answer in one sentence.
What is sacrifice ratio?
