Worksheetsadmission of partner 12th accounts
Total questions: 15
Worksheet time: 9mins
A and B are Partners sharing Profits in the ratio of 3:2. They Admit C for ¼ share who contributed Rs 30,000 for his share of goodwill. The total value of the goodwill of the firm will be :
Rs 1,50,000
Rs 1,20,000
Rs 1,00,000
Rs 1,60,000
The balance in the investment Fluctuation fund after meeting the fall in book value of investment , at the time of admission of partner will transferred to :
Revaluation Account
Capital Account of old Partners
General Reserve
capital Account of All Partners
When new partner brings cash for goodwill , the amount is credited to :
Realisation Account
Cash account
Premium for Goodwill Account
Revaluation Account
The Need of revaluation of assets and liabilities on admission
Assets and Liabilities should appears at revised values
Any profit and loss an account of change in values belong to old partners
All unrecorded assets and liabilities get recorded
None of Above
Q1 When goodwill is not recorded in the books at all on admission of a partners ?
If paid privately
If brought in cash
If not brought in cash
If brought in Kind
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
A and B are partners sharing profits in the ratio of 2: 3, they admit C as a partner for 1/4th share, the sacrificing ratio of a and b will be
2:3
1:1
3:2
2:1
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
A ,B,C are partners sharing profit in ratio of 3:2:1.D admitted in the firm as a new partner with 1/6th share.calculate new profit share ratio
15:10:5:4
15:10:5:6
3:2:1:1
None of these
What right a newly admitted partner acquires in the firm after his admission?
Right to vote
Right to admit any partner
Right to share assets of the firm
None of the above
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
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
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
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
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
