Question 45 Chapter 7 of +2-Part-1 45. (Comprehensive) Amar, Akbar and Anthony commenced business on 1st April 2018, sharing profits and losses in the ratio of 2: 2:1. Capitals contributed were: Amar Rs. 40,000: Akbar Rs. 30,000 and Anthony RS. Read More …
Question 44 Chapter 7 of +2-Part-1 44. (Realisation A/c/Capital & Current A/c/Cash A/e) X, Y and Z are in partnership sharing profits and losses equally. Their balance Sheet as at 31 March 2017 was as follows: Liabilities Rs. Assets Rs. Read More …
Question 43 Chapter 7 of +2-Part-1 43. (Realisation A/c/Cash A/c/Capital A/c’s) The partnership between Read and Write was dissolved on 31-3-2017. On that date the respective credits to the capitals were Read Rs. 1,70,000 and Write Rs. 30,000: Rs. 20,000 Read More …
Question 42 Chapter 7 of +2-Part-1 42. (Realisation A/c) Sachin and Tarun were partners sharing profits and losses as to 2/3 and 1/3 respectively. On 31st December 2015 they dissolved the partnership firm when their books showed the following ledger Read More …
Question 41 Chapter 7 of +2-Part-1 41. (Memorandum Balance Sheet/Ledger Ales) A and B were partners in a business sharing profits and losses in the ratio of 3 :1 respectively. They decided to dissolve their partnership on lit January 2015. Read More …
Question 40 Chapter 7 of +2-Part-1 40. (Journal/Realisation A/e/Partner’s Capital A/e) Prakash, Kiran and Rishabh are partners in a firm sharing profits and losses in the ratio of 3:21 Their Balance sheet an at 31 March, 2015 stood as follows: Read More …
Question 39 Chapter 7 of +2-Part-1 39. (Unrecorded Asset and Liability/Journal/Ledger A/c s) X, Y and Z are partners sharing profits in the proportion of 3: 2:1. They dissolved the firm on December 31, 2015. On that date the balance Read More …
Question 38 Chapter 7 of +2-Part-1 38. (Realisation A/c/Partners‘ Capital A/c/Cash A/e) Bhuvan, Suraj and Ibrahim were partners in a firm sharing profits in the ratio of 3: 2:1. On 30th June, 2015, they decided to dissolve the firm. Following Read More …
Question 37 Chapter 7 of +2-Part-1 37. (Goodwill does not appear in Books/Realisation Ac/Bank A/e/Partner’s Capital A/c) Mrs. Ritu Chaudhary and Miss Shobha are partners in a firm ‘Fancy Garments Exports’ sharing profits and losses equally on 1st January 2016, Read More …
Question 36 Chapter 7 of +2-Part-1 36. (Realisation A/c/Bank A/c/Partner’s Capital A/e) The following Arvind and Balbir as on 31st December, 2015. Liabilities Rs. Assets Rs. Trade Creditors 45,000 Cash 50 Bills payable 12,000 Bank 12,000 Mrs. Arvind loan 7,500 Read More …