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In case of admission of a partner, the e...

In case of admission of a partner, the entry for unrecorded investments will be:

A

Debit Partners Capital A/cs and Credit Investments A/c

B

Debit Revaluation A/c and Credit Investment A/c

C

Debit Investment A/c and Credit Revaluation A/c

D

None of the above

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Pass entries in firm's Journal for the following on admission of a partner: (i) Unrecorded Investments worth RS.20,000. (ii) Unrecorded liability towards suppliers for RS.5,000. (iii) An item of RS.1,600 included in Sundry Creditors is not likely to be claimed and hence should be written back.

DK GOEL-ADMISSION OF A PARTNER -MCQ Treatment of Goodwill :
  1. When a new partner brings goodwill in Cash, it is credited to :

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  2. If the incoming partner brings the amount of goodwill in Cash and also...

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  3. If, at the time of admission, the revaluation A/c shows a profit, it s...

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  4. Revaluation Account or Profit and Loss Adjustment A/c is a

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  5. In case of admission of a partner, the entry for unrecorded investment...

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  6. When the balance sheet is prepared after the new partnership agreement...

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  7. Goodwill of a firm of A and B is valued at Rs. 30,000. Goodwill is app...

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  8. A and B are partners of a partnership firm sharing profits in the rati...

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  9. X and Y are partners sharing profits in the ratio 5 : 3. They admitted...

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  10. Ramesh and Suresh are partners sharing profits in the ratio of 2 : 1 r...

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  11. A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,0...

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  12. A and B are in partnership sharing profits in the ratio of 3 : 2. They...

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  13. X and Y are partners sharing profits in the ratio of 4 : 3. Z is admit...

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  14. A and B are partners sharing profits in the ratio of 2 : 3. Their Bala...

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  15. A, B and C are partners sharing profits in ratio of 3 : 2 : 1. They ag...

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  16. X and Y are partners sharing profits in the ratio 2 : 3. They admitted...

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  17. A, B, C and D are partners. A and B share 2/3rd of profits equally and...

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  18. Sacrificing ratio is used to distribute ………. In case of admisstion of ...

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  19. X and Y are partners in a firm with capital of Rs.1,80,000 and Rs.2,00...

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  20. A and B are partners profits and losses in the ratio of 5 : 3. On admi...

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