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WorksheetsAdmission of a Partner
Total questions: 10
Worksheet time: 5mins
[1] Reserve appearing in the Balance Sheet at the time of admission of a partner, is distributed among partners in their (a) Ratio.
At the time of admission, Gain (Profit) or Loss on revaluation is shared by the old partners
in their (a) ratio.
Workmen compensation reserve shown in the balance sheet liability site Rs 35000 and in adjustment it is said workmen compensation claim is to be created Rs 10000. The amount shown in the new balance sheet will be Rs...............
35000
10,000
25000
45000
When a new partner brings his share of goodwill in cash, the amount is debited to (a) Account
A, B and C share profits and losses in the ratio of 3:2:1. On admission of D, they agree to share profits and losses in the ratio of 5:4:2:1.Sacrificing Ratio of A, B and C will be _________.
( only A sacrifice by 1/12)
A and B will sacrifice in 2:3
A,B and C will sacrifice 3:2:5
NOTA
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
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
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
A and B are partners sharing profits and losses in the ratio of 3:2. A’s Capital is 60,000 and B’s Capital is 30,000. They admit C for 1/5th share of profits. How much C should bring in towards his capital?
(a) 18,000
(b) 24,000
(c) 29,000
(d) 22,500
X and Y are partners sharing profits in the ratio 5 : 3. They admitted Z for 1/5th share of profits, for which he paid ₹ 1,20,000 against capital and ₹ 60,000 as goodwill. Find the capital balances for each partner taking Z’s capital as base capital:
(a) 3,00,000; 1,20,000 and 1,20,000
(b) 3,00,000; 1,20,000 and 1,80,000
(c) 3,00,000; 1,80,000 and 1,20,000
(d) 3,00,000; 1,80,000 and 1,80,000
