Accounting for Partnership Firms (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Accountancy): Questions 5 - 13 of 135

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Question number: 5

» Accounting for Partnership Firms » Reconstitution and Dissolution » Admission of a Partner

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In case of admission of a new partner, goodwill was already appearing in the books of the firm. Give journal entry for its treatment.

Question number: 6

» Accounting for Partnership Firms » Reconstitution and Dissolution » Admission of a Partner

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The goodwill of a partnership is valued at Rs. 20, 000. State the amount required by a new partner, if he is coming for 1/5 share in profits.

Question number: 7

» Accounting for Partnership Firms » Past Adjustments

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The partnership deed provides that Anjali, the partner will get Rs. 10, 000 per month as salary. But, the remaining partners object to it. How will this matter be resolved?

Question number: 8

» Accounting for Partnership Firms » Reconstitution and Dissolution » Change in the Profit Sharing Ratio

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State any two reasons for the preparation of ‘Revaluation Account’ on the admission of a partner.

Question number: 9

» Accounting for Partnership Firms » Reconstitution and Dissolution » Admission of a Partner

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State the two financial rights acquired by a new Partner?

Question number: 10

» Accounting for Partnership Firms » Reconstitution and Dissolution » Retirement and Death of a Partner

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State two differences between Revolution A/c and Memorandum Revolution A/c.

Question number: 11

» Accounting for Partnership Firms » Partnership

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State any four contents of a partnership deed.

Question number: 12

» Accounting for Partnership Firms » Reconstitution and Dissolution » Admission of a Partner

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In case of admission of a partner, in which ratio profits or loss on revaluation of assets and reassessment of liabilities shall be divided?

Question number: 13

» Accounting for Partnership Firms » Reconstitution and Dissolution » Admission of a Partner

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“The gaining partner’s should compensate to sacrificing partner’s with the amount of gain. ” Journalise this statement.

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