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WorksheetsAdmission of a partnee
Total questions: 12
Worksheet time: 12mins
What is your name
What is the name of your existing school/ institute?
At the time of admission of a partner , general reserve appearing in the old Balance sheet is transferred to
All partners capital account
New partner capital account
Old partner capital account
None of the above
A, B and C are partners in a Firm. If D is admitted as a new partner :
Old Firm is dissolved
Old Firm and partnership is dissolved
Old partnership is reconstitution.
None of the above
On the admission of a new partner increase in the value of assets is debited to
Revaluation Account
Assets Account
Old partners capital account
None of the above
At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to capital Account of
Old partner in old ratio
Old partner in new ratio
All partner in new ratio
Old partners in sacrifice ratio
Hem and nem are partner in a firm sharing profit in the ratio of 3:2. Their capital is 80,000 and 50,000 . They admitted Sam as a new partner with 1/5 share of profit. Sam brings 60,000 as his capital . Calculate the sam share in goodwill with the help of Hidden Goodwill formula
(a)
Rohit and Mohit are partners with a ratio of 5:3. They admit biru with 1/7 share of profit. The new profit sharing ratio is 4:2:1. Calculate the sacrifice ratio
5:3
4:3
1:1
3:5
What is the formula of sacrificing ratio
(a)
Anshu and nitu are partners sharing profit in the ratio of 3:2. They admit jyoti as a new partner for 3/10 share which she acquired 2/10 from anshu and 1/10 from nitu. Calculate the new profit sharing ratio
3:3:4
3:4:3
4:3:3
3:2:1
"Adjustment of capital" is calculated in which case of admission of a partner.
Make the journal entry of loss transferred to capital account.
