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Amit and Beena were partners in a firm s...

Amit and Beena were partners in a firm sharing profits and losses in the ratio of 3 : 1. Chaman was admitted as a new partner for 1/6th share in the profits. Chaman acquired 2/5th of his share from Amit. How much share did Chaman acquire from Beena?

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X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. Z is admitted as partner with 1/4th share in profit. Z acquired his share from X and Y in the ratio of 2 : 1. Calculate new profit-sharing ratio.

B and N are partners in a firm sharing profits in the ratio of 3 : 2. They admit S as a partner for 1/4th share in the profits. S acquires his share from B and N in the ratio of 2 : 1. The new profit-sharing ratio will be :

A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. They admited D as a new partner for 1/8th share in the profits, which he acquired 1/16th from B and 1/16th from C. Calculate the new profit-sharing ratio of A, B, C and D.

X, Y and Z are partners sharing profits in the ratio of 2 : 2 : 1. W is admitted as a new partner for (1)/(6)th share. Z will retain his share. Calculate new profit-sharing ratio.

A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner C is admitted. A surrenders 1/15th share of his profit in favour of C and B surrenders 2/15th of his share in favour of C. The new ratio will be :

A and B sharing profits and losses in the ratio of 2/3rd and 1/3rd, admit C as a partner giving him 1/4th share. The new profit-sharing ratio will be.

A and B were partners in a firm sahring profits and losses in the ratio of 3 : 2. they admitted C as a new partner for 3/7th share in the profit and the new profit-sharing ratio will be 2 : 2 : 3. C brought RS.2,00,000 as his capital and RS.1,50,000 as premium for goodwill. Half of their share of premium was withdrawn by A and B from the firm. Calculate sacrificing ratio and pass necessary Journal entries for the above transactions in the books of the firm.

TS GREWAL-Admission of a Partner-VERY SHORT ANSWER QUESTIONS
  1. List any two items that need adjustments in the books of account of a ...

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  2. What is meant by Revaluation Account?

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  3. Why is it necessary to revalue assets and liabilities of a firm in ca...

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  4. In which account increase in the value of asset is credited on the adm...

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  5. State whether Revaluation Account is debited of credited to record the...

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  6. State whether Revaluation Account is debited of credited to record the...

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  7. State whether Revaluation Account is debited or credited to record the...

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  8. State whether Revaluation Account is debited or credited to record the...

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  9. State whether Revaluation Account is debited or credited to record an ...

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  10. State whether Revaluation Account is debited or credited to record the...

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  11. State any two reasons for the preparation of Revaluation Account on th...

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  12. State whether the Partner's Capital Account is debited or credited to ...

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  13. State whether the Partner's Capital Account is debited or credited to ...

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  14. When the General Reserve is distributed, are the Partner's Capital Acc...

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  15. Under what circumstances will the premium for goodwill paid by the inc...

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  16. State with reason whether at the time of admission of a partner, partn...

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  17. Amit and Beena were partners in a firm sharing profits and losses in t...

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  18. Geeta, Sunita and Anita were partners in a firm sharing profits in the...

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  19. Karan, Nakul and Asha were partners in a firm sharing profits and loss...

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  20. A, B, C and D were partners in a firm sharing profits in the ratio of ...

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