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Subject: Accountancy, asked on 2/1/18

In case of change in PSR why does the gaining partner compensates to the sacrificing partner as the value of goodwill fluctuates and will change next time during the valuation of same. Explain

Subject: Accountancy, asked on 1/1/18

If IFF is adjusted to the fluctuations in the market value of investments then what value of IFF will appear in the b/s?

Subject: Accountancy, asked on 1/1/18

If there is a claim against WCF during normal course of business then how one can know that the figure appearing in the balance sheet is a claim amount or the reserves maintained by the company?

Subject: Accountancy, asked on 1/1/18

What entry is passed when goodwill is purchased?

Subject: Accountancy, asked on 1/1/18

How can a business show their goodwill in their balance sheet if they want if the goodwill is self generated over the years?

Subject: Accountancy, asked on 1/1/18

After the valuation of goodwill at the time of reconstitution , when old goodwill is written off then what amount of goodwill appears in the balance sheet thereafter?

Subject: Accountancy, asked on 1/1/18

If the claims against statutory reserves are settled then will it distributed among the partners at the time of reconstitution?

Subject: Accountancy, asked on 1/1/18

General reserves like WCF or IFF are distributed every year among the partners or only at the time of reconstitution?

Subject: Accountancy, asked on 31/12/17

At the time of the reconstitution if goodwill already appears in the balance sheet which is the result of past efforts then why there is a valuation of goodwill again? It seems that the goodwill a/c is credited to the partners capital a/c twice that is old and new goodwill. Explain

Subject: Accountancy, asked on 31/12/17

At the time of reconstitution of the firm valuation of goodwill of the firm is done at that time which is the result of the past efforts then from where does the old goodwill comes in the balance sheet?

Subject: Accountancy, asked on 31/12/17

If there is a claim against IFF then will it appear in the balance sheet?

Subject: Accountancy, asked on 31/12/17

If WCF appears in the balance sheet then is it the claim amount or the reserve maintained by the comapany every year?

Subject: Accountancy, asked on 30/12/17

General reserves like WCF or IFF are distributed every year among the partners or only at the time of reconstitution?

Subject: Accountancy, asked on 27/12/17

Please check the answer

Subject: Accountancy, asked on 26/12/17

please answer the encircled question 




i. Goodwill of the firm was valued at Re 1,02,000.

ii. There was a claim of Re 8000 for workmen's compensation

iii.  Provision for  bad debts was to be reduced by Re 2,000. 

iv. H Will be paid  Re 14,000 in cash and the balance Will be transferred in his 
loan account which will be paid in four equal yearly instalments together  with interest @ 10% p.a. 

v. The new profit sharing ratio between J and K will be 3 : 2 and their  capitals will be in their new profit sharing ratio. The capital adjustments  will be done by opening current accounts


Prepare Revaluation report,Partner's capital accounts and Balance sheet of the new firm

34567
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