Change In Profit Sharing Ratio Of Existing Partners CBSE Questions & Answers

A,B and C who are presently sharing profit and losses in the ratio of 5:3:2, decide to share future profits and losses in the ratio of 2:3:5 with effect from 1st April 2012.Balance sheet shown land building of 100000.What should be accounting g treatment if it decide it valued them at Rs.125000.By what amount revolution account should be credited in

A, B and C are partners their profit sharing ratio (old 5:3:2 and new 2:3:5).Their capital after adjustments are Rs.45000, Rs.25000, Rs.6000. Who will bought the amount of actual cash for their adjustment

P, Q and R are partners sharing profits equally. They decided that in future R will get 1/5 share in profits and remaining profit will be shared by P and Q equally. On the day of change, firm’s goodwill is valued at Rs.60,000.Value involved in this is

P, Q and R who are presently sharing profits and losses in the ratio 5:3:2 decide to share future profits and losses in the ratio of 2:3:5 with effect from 1st April 2012. Balance sheet show Plant & Machinery of Rs.200000 and Provision for depreciation of Plant & Machinery Rs.10000.By what amount revaluation account should be debited if it is decided that Provision for depreciation be increased to Rs.19000.

P, Q and R who are presently sharing profits and losses in the ratio 5:3:2 decide to share future profits and losses in the ratio of 2:3:5 with effect from 1st April 2012. Balance sheet show creditors amounted Rs.200000By what amount creditors account should be decreased if it is decided that an item of Rs.10000 included in sundry creditors is most likely to be claimed

To record the unrecorded items it was found that there was old furniture in the firm which had been written off completely in the books. This was sold for Rs.3000Then how will you deal with in journal

How will you deal with if no other information is given for the Investment fluctuating reserves except assets shows Investment (cost) Rs.200000 and Investment fluctuation reserves Rs.18000.P,Q and R are partners their ole profit sharing ratio is 4:3:2

A,B and C are partners their profit sharing ratio ( old 5:3:2 and new 2:3:5).Their capital after adjustments are Rs.59000, Rs.30000, Rs.11000. Calculate the amount of actual cash to be paid off or brought by the old partners for their adjustment

Ram and Rohit shared profit and loss in the ratio of 3:2. With effect from 01/04/2012 they agreed to share profits equally. The goodwill of the firm was valued at 30000. Which partner account should be debited in this case for the adjustment

A,B and C are sharing profits and losses in the ratio 5:3:2 with effect from 01/04/2013 they decide to share profit and losses equally. Calculate B partner’s gain share

A, B and C are partners their profit sharing ratio (old 5:3:2 and new 2:3:5).Their capital after adjustments are Rs.59000, Rs.30000, Rs.11000. What should be the journal entry for the amount of actual cash to be paid off the old partners for their adjustment

Change in existing profit sharing ratio is mostly made when there is change in ____

Calculate the net effect of adjustment when present value of goodwill is 180000 and existing book value is Rs.12000 and surrender value of joint life policy is Rs.6000

Ram and Rohit shared profit and loss in the ratio of 3:2. With effect from 01/04/2012 they agreed to share profits equally. The goodwill of the firm was valued at Rs.30000. By what amount Rohit account should be debited by

A and B are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3. Which individual partner’s gain and Sacrifice