SSC BOARD PAPERS IMPORTANT TOPICS COVERED FOR BOARD EXAM 2024

### Chapter 3 - Reconstitution of Partnership (Admission of Partner) [Latest edition] Write a word/phrase/term which can substitute the following statement.

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

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

## Write a word/phrase/term which can substitute the following statement.

Method under which calculation of goodwill is done on the basis of extra profit earned above the normal profit - Super Profit Method

An account opened to adjust the value of assets and liabilities at the time of admission of a partner - Revaluation A/c or Profit and Loss A/c

Reputation of business measured in terms of money - Goodwill

The ratio in which general reserve is distributed to the old partners. - Old Ratio

Name the method of the treatment of goodwill where new partner will bring his share of goodwill in cash. - Premium Method

The proportion in which old partners make a sacrifice. - Sacrifice Ratio

Capital employed × NRR/100 = Normal Profit

An account that is debited when the partner takes over the asset. - Partner’s Capital A/c or Partner’s Current A/c

Profit and Loss Account balance appearing on the liability side of the Balance Sheet. - Undistributed Profit or Accumulated Profit

Old ratio - New ratio = Sacrifice Ratio

Chapter 3: Reconstitution of Partnership (Admission of Partner)

## Calculate the following.

A and B are partners in a firm sharing profits and losses in the ratio of 1:1. C is admitted. A surrenders 1/4th share and B surrenders 1/5th of his share in favor of C. Calculate the new profit sharing ratio.

## Calculate the following.

Anika and Radhika are partners sharing profits in the ratio of 5:1. They decide to admit Sanika in the firm for 1/5th share. calculate the sacrifice ratio of Anika and Radhika.

## Calculate the following.

Pramod and Vinod are partners sharing profits and losses in the ratio of 3:2. After the admission of Ramesh the new ratio of Pramod, Vinod and Ramesh is 4:3:2. Find out the sacrifice ratio.

# PRACTICAL PROBLEMS [PAGES 161 - 167]

Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board Chapter 3 Reconstitution of Partnership (Admission of Partner) Practical Problems [Pages 161 - 167]

##### Practical Problems | Q 10 | Page 167

Book-keeping and Accountancy 12th Standard

HSC Maharashtra State Board. Latest Syllabus.

Chapter 1: Introduction to Partnership and Partnership Final Accounts

Chapter 2: Accounts of ‘Not for Profit’ Concerns

Chapter 3: Reconstitution of Partnership (Admission of Partner)

Chapter 4: Reconstitution of Partnership (Retirement of Partner)

Chapter 5: Reconstitution of Partnership (Death of Partner)

Chapter 6: Dissolution of Partnership Firm

Chapter 7: Bills of Exchange

Chapter 8: Company Accounts - Issue of Shares

Chapter 9: Analysis of Financial Statements

Chapter 10: Computer In Accounting

ACCOUNTS BOARD PAPERS

HSC Accounts March 2020 Board Paper With Solution

ACCOUNTANCY PAPER PATTERN

SINGLE ENTRY

FINAL ACCOUNT

NPO

BILL OF EXCHANGE

BILL OF EXCHANGE [FORMAT].

RETIREMENT OF PARTNER

DEATH OF PARTNER

ACCOUNTING FOR SHARES

DISSOLUTION OF PARTNERSHIP FIRM

VALUATION OF GOODWILL WITH SOLUTION

FORMAT OF FINAL ACCOUNT

INTRODUCTION TO PARTNERSHIP

ACCOUNTS BOARD PAPERS WITH SOLUTION

IMPORTANT PRACTICE PAPER FOR BOARD EXAM 2020

ACCOUNTS SAMPLE PAPER ONE

ACCOUNTS SAMPLE PAPER TWO

ACCOUNTS SAMPLE PAPER THREE

OBJECTIVE QUESTIONS