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प्रश्न
Which of the following statements is not true in relation to the admission of a partner?
पर्याय
Generally mutual rights of the partners change
The profits and losses of the previous years are distributed to the old partners
The firm is reconstituted under a new agreement
The existing agreement does not come to an end
उत्तर
The existing agreement does not come to an end
APPEARS IN
संबंधित प्रश्न
Answer in one sentence only.
What does the excess of debits over credits in profit and loss adjustment account indicate?
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 ____________
State True or False with reason.
The gain ratio is calculated at the time of admission of a partner.
What is the sacrifice ratio?
Excess of proportionate capital over actual capital represents _________.
Answer in one sentence.
What is sacrifice ratio?
Answer in one sentense.
What is sacrifice ratio?
Do you agree or disagree with the following statements:
Gain ratio means profit share given up by the retiring partner.
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.
