CBSE (Central Board of Secondary Education) Class-12 Accountancy: Questions 134 - 138 of 216
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Question 134
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At the time of retirement of a partner give journal entry for writing off the existing goodwill.
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Question 136
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X, Y and Z are partners sharing profits and losses in the ratio of 3: 2: 1. Z retires and the following Journal entry is passed in respect of Goodwill:
No. | Particulars | L. F. | Dr. ₹ | Cr. ₹ |
1 | Y՚s Capital A/c … Dr. | - | 20,000 | |
To X՚s Capital A/c | 10,000 | |||
To Z՚s Capital A/c | 10,000 |
The value of goodwill is ₹ 60,000. What is the new profit-sharing ratio between X and Y?
EditQuestion 137
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Give the name of the compensation which is paid by a new Partner to sacrificing Partners for sacrificing their share of profits.
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Journalise the following transactions in the books of sum ltd.
- 100,12% debentures of ₹ 100 each issued at a discount of 10% were converted into 10% preference shares of ₹ 100 each issued at a premium of 25% . The debentures were converted at the option of the debenture holders before the date of redemption.
- 100,10% debentures of ₹ 500 each were converted into debentures of ₹ 100 each. The new debentures were issued at a discount of 20% .