Admission of a ...

What treatment should be given to  Employee’s provident Fund appearing in the liabilities side of the Balance Sheet in case of admission of a partner

In case of undistributed accumulated losses whose account should be debited

The existing goodwill if appearing in the firm is __________ by debiting the old partner’s account.

X and Y are partners sharing profits in the ratio of 5:3. Z is admitted for 1/6 share. All partners have decided to share future profits equally. At the time of admission of Z, balance sheet shows balance of profit and loss account ₹16,000. This profit will be shared by ____ partners in _____ ratio.

Ram is admitted as a partner on M/s Iron and Steel Co. a partnership firm of Naman and Manik. The firm has reserve of `50000 and accumulated profit of 100000. At the time of admission Arpit an accountant distributed the reserve and accumulated profit in their profit sharing ratio. Naman was of the opinion that reserve and profit should not be distributed because even if they do not distribute reserve and profit, they will remain in business and can be distributed when partners retire or firm is dissolved. Do you agree with Naman give reason?

Which of following is not debited to the old partners’ capital/current accounts at the time of admission?

A and B sharing profit in the ratio of 4:3. C is admitted and balance sheet shows a balance of General Reserve ₹70000.WHAT amount OF  General Reserve should be transfer to B’s A/c

Revaluation Profit is only for:

Loss on Revaluation will be distributed among:

Unrecorded Liabilities are: