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Ipsita Chakravarty
Subject: Accountancy
, asked on 17/1/18
Solve this:
Q1. A and B are partners in the ratio of 5 : 4. They admit C for 1/10
th
share, which he acquires, in equal proportions from both. Find the new profit sharing ratio.
Q2. On 01.04.2010, Sahil and Charu entered into partnership for sharing profit in the ratio of 4 : 3. They admitted Tanu as a new partner on 01.04.2012 for 1/5
th
share which she acquired equally from Shahil and Charu. Sahil, Charu and Tanu earned profits at a higher rate than the normal rate of return for the year ended 31-03-2013. Therefore, they decided to expand their business. To meet the requirements of additional capital they admitted Puneet as a new partner on 01.04.2013 for 1/7
th
share in profits which he acquired from Sahil and Charu in 7 : 3 ratio.
Calculate :
(i) New profit sharing ratio of Sahil, Charu , and Tanu for the year 2012-13.
(ii) New profit sharing ratio of Sahil, Charu, Tanu and Puneet on Puneet's admission.
Answer
2
Ipsita Chakravarty
Subject: Accountancy
, asked on 17/1/18
A,b abd c were partners in a firm sharing profits in the ratio of 3:2:1.B was guaranteed a profit of Rs.200000
During the year firm earned a profit of 84000 .calculated the net amount of profit/loss transferred to the capital a/cs of A and C?
Answer
1
Ambareesh
Subject: Accountancy
, asked on 13/1/18
how to calculate goodwill for the died partner who is dead on 5th of april 2016 and the firm books are closed every year 31st march every year ?
Answer
3
Riya Verma
Subject: Accountancy
, asked on 10/1/18
Why does unrecorded asset is considered as gain as the amount spent on it is taken from firm but we have not deducted that cash amount. So why we credit in partners capital account, we can simply deduct the cash amount in new balance sheet and show the asset. What is need of taking it to the revaluation a/c? Explain
Answer
1
Riya Verma
Subject: Accountancy
, asked on 10/1/18
If partner wants to withdraw some cash payable to him by the firm and it is more than the cash available in the business then will he be able to do the same? If yes then how?
Answer
2
Riya Verma
Subject: Accountancy
, asked on 10/1/18
Why employees provident fund is maintained in case of partnership as they do not provide the facilities of pension after retirement except the government company?
Answer
1
Riya Verma
Subject: Accountancy
, asked on 9/1/18
In case of hidden goodwill, when the goodwill of the firm is ascertained then the new partner gives the amount of goodwill out of his capital or he brings it separately?
Answer
3
Riya Verma
Subject: Accountancy
, asked on 9/1/18
In case of admission , new partner gives the amount of premiun for goodwill but after that how does he gets his share in the goodwill of the firm and when?
Answer
2
Riya Verma
Subject: Accountancy
, asked on 9/1/18
What is the amount of remuneration allowed to a partner when nothing is mentioned in the partnership deed?
Answer
1
Riya Verma
Subject: Accountancy
, asked on 9/1/18
average profits reveals the average of profits of last years of the firm. normal profit reveals about the current year or past years? Plz Explain the difference between these two in brief .
Answer
1
Riya Verma
Subject: Accountancy
, asked on 9/1/18
What is the purpose of assigning weights to the profits of past years for finding goodwill of the firm using weighted average profit method?
Answer
1
Riya Verma
Subject: Accountancy
, asked on 8/1/18
Goodwill = avg. profit ? no. of years purchase ( assume 3 years). At the time of admission, new partners compensates premium amount of goodwill upto his share so if the company further earns profits for 3 years which is equal to the avg. profit then can we say that the new partner would not get any benefit from the profits at all?
Answer
5
Riya Verma
Subject: Accountancy
, asked on 6/1/18
Why does unrecorded asset is considered as gain as the amount spent on it is taken from firm but we have not deducted that cash amount. So why we credit in partners capital account, we can simply deduct the cash amount in new balance sheet and show the asset. What is need of taking it to the revaluation a/c? Explain
Answer
1
Riya Verma
Subject: Accountancy
, asked on 6/1/18
If partner wants to withdraw some cash payable to him by the firm and it is more than the cash available in the business then will he be able to do the same? If yes then how?
Answer
1
Riya Verma
Subject: Accountancy
, asked on 6/1/18
Why employees provident fund is maintained in case of partnership as they do not provide the facilities of pension after retirement except the government company?
Answer
2
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What are you looking for?
Q1. A and B are partners in the ratio of 5 : 4. They admit C for 1/10th share, which he acquires, in equal proportions from both. Find the new profit sharing ratio.
Q2. On 01.04.2010, Sahil and Charu entered into partnership for sharing profit in the ratio of 4 : 3. They admitted Tanu as a new partner on 01.04.2012 for 1/5th share which she acquired equally from Shahil and Charu. Sahil, Charu and Tanu earned profits at a higher rate than the normal rate of return for the year ended 31-03-2013. Therefore, they decided to expand their business. To meet the requirements of additional capital they admitted Puneet as a new partner on 01.04.2013 for 1/7th share in profits which he acquired from Sahil and Charu in 7 : 3 ratio.
Calculate :
(i) New profit sharing ratio of Sahil, Charu , and Tanu for the year 2012-13.
(ii) New profit sharing ratio of Sahil, Charu, Tanu and Puneet on Puneet's admission.
During the year firm earned a profit of 84000 .calculated the net amount of profit/loss transferred to the capital a/cs of A and C?