Chapter 3 - Reconstitution of Partnership (Admission of Partner) [Latest edition] Select appropriate alternatives from those given below and rewrite the sentence.

Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board 

Chapter 3 - Reconstitution of Partnership (Admission of Partner) [Latest edition]

Select appropriate alternatives from those given below and rewrite the sentence.

 

Anuj and Eeshan are two partners sharing profits and losses in the ratio of 3:2. They decided to admit Aaroh for 1/5th share, the new profit sharing ratio will be ____________

 

12 : 8 : 5

4 : 3 : 1

12 : 8 : 1

12 : 3 : 1


Excess of proportionate capital over actual capital represents _________

 

Equal capital

Surplus Capital

Deficit Capital

Gain


__________ is credited when an unrecorded asset is brought into the business.

 

Revaluation Account

Balance Sheet

Trading Account

Partners capital Account


When goodwill is withdrawn by the partner________account is credited.


Revaluation

Cash/Bank

Current

Profit and Loss Adjustment

 

If the asset is taken over by the partner_________ account is debited.

 

Revaluation

Capital

Asset

Balance Sheet


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