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Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)- USHA Publication Class +2 – Solution

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Chapter No. 4 - Partnership Accounts - III (Reconstitution of Partnership)- USHA Publication Class +2 - Solution

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What is Reconstitution of a Partnership Firm: –

Reconstitution of a Partnership Firm means when with the consent of all partners they make some fundamentals changes in the Partnership deed. It may when the partners want to change their profit sharing ratio or any partner want to increase or decrease his investment as well as involvement in the business. And in the other condition like an admission of a new partner(s), the retirement/death/insolvency of existing partner(s). 

When we need to Reconstitution of a Partnership Firm: –

In the following situation, the firm needs to reconstitution of a Partnership firm: –

  1. The admission of New Partner(s)
  2. When there is a change in the Profit Sharing Ratio between existing partners
  3. The Retirement of one or more from the existing Partners
  4. In the case of Death or Insolvency of Partner(s)

Check out the full article: –

Reconstitution of a Partnership Firm – Explained

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)- USHA Publication Class +2 – Solution

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Question wise solution of the all Questions of Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)- USHA Publication Class +2 – Solutions are shown below: –

Question 01 Chapter 4 of +2- Part-
Question 01 Chapter 4 of +2-Part-1 1. (NPS/ Sacrifice and Gain) A and B were partners in a firm sharing ...
Question 02 Chapter 4 of +2- Part-
Question 02 Chapter 4 of +2-Part-1 2. (NPS/ Sacrifice and Gain) A, B and C are partners in 2:1:3 ratio ...
Question 03 Chapter 4 of +2- Part-
Question 03 Chapter 4 of +2-Part-1 3. (NPS/ Sacrifice and Gain) A, B and C are partners in 3:7:5 ratio ...

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Question 04 Chapter 4 of +2- Part-
Question 04 Chapter 4 of +2-Part-1 4. (Goodwill doesn’t exist) X, Y and Z are partners sharing profits in 5:3:2 ...
Question 05 Chapter 4 of +2- Part-
Question 05 Chapter 4 of +2-Part-1 5. (Goodwill exist in the balance sheet) P, Q and R are partners in ...
Question 06 Chapter 4 of +2- Part-
Question 06 Chapter 4 of +2-Part-1 6. (Different cases of treatment of Goodwill) X, Y and Z who are presently ...
Question 07 Chapter 4 of +2- Part-
Question 07 Chapter 4 of +2-Part-1 7. (Profit and loss account not closed) X and Y are partners in 4:1 ...
Question 08 Chapter 4 of +2- Part-
Question 08 Chapter 4 of +2-Part-1 8. (Profit and loss account/ Reserve are closed) P and Q are partners in ...

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Question 09 Chapter 4 of +2- Part-
Question 09 Chapter 4 of +2-Part-1 9. (Profit and loss account/ Reserve are closed) A, B and C are partners ...
Question 010 Chapter 4 of +2- Part-
Question 10 Chapter 4 of +2-Part-1 10. (Distribution of Profit and loss account) Sita and Geeta share the profit in ...
Question 11 Chapter 4 of +2- Part-
Question 11 Chapter 4 of +2-Part-1 11. (Profit and loss account/ General Reserve are given) A B and C are ...
Question 12 Chapter 4 of +2- Part-
Question 12 Chapter 4 of +2-Part-1 12. (Different Cases) A B and C are partners in 2:2:1 ratio. They admitted ...

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Question 13 Chapter 4 of +2- Part-
Question 13 Chapter 4 of +2-Part-1 13. (Distribution of old Reserves) A and B share profits in 5:3 ratio. On ...
Question 14 Chapter 4 of +2- Part-
Question 14 Chapter 4 of +2-Part-1 14. (Different Cases) A and B are partners in 2:1 ratio. They had Rs.10,000 ...
Question 15 Chapter 4 of +2- Part-
Question 15 Chapter 4 of +2-Part-1 15. (Balances appearing in B/S ) A, B and C are partners in 4:3:2 ...
Question 16 Chapter 4 of +2- Part-
Question 16 Chapter 4 of +2-Part-1 16. (Comprehensive Illustration) X and Y are in partnership, sharing profits in 2:3 ratio ...
Question 17 Chapter 4 of +2- Part-
Question 17 Chapter 4 of +2-Part-1 17. (Comprehensive Illustration) X,Y and Z are sharing profits and losses in 5:3:2 ratio ...

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Question 18 Chapter 4 of +2- Part-
Question 18 Chapter 4 of +2-Part-1 18. (Treatment of Workmen Compensation Reserve) X, Y and Z are partners in 2:3:1 ...
Question 19 Chapter 4 of +2- Part-
Question 19 Chapter 4 of +2-Part-1 19. (Revaluation entries) X and Y share profits in 6:7 ratio. The future ratio ...
Question 20 Chapter 4 of +2- Part-
Question 20 Chapter 4 of +2-Part-1 20. (Revaluation account) A, B and C are partners in 3:2:1 ratio. On 31st ...
Question 21 Chapter 4 of +2- Part-
Question 21 Chapter 4 of +2-Part-1 21. (Revaluation account) Prepare revaluation account of a firm of partner A and B:Creditors ...

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Question 22 Chapter 4 of +2- Part-
Question 22 Chapter 4 of +2-Part-1 22. (Preparation of B/S) The following is the Balance sheet of A, B and ...
Question 23 Chapter 4 of +2- Part-
Question 23 Chapter 4 of +2-Part-1 23. (Revaluation by passing a single adjustment entry) P, Q and R are sharing ...
Question 24 Chapter 4 of +2-Part-1 24. (Revaluation entries/ Capital a/c/ Balance sheet) X, Y and Z are partners in ...
Question 25 Chapter 4 of +2- Part-
Question 25 Chapter 4 of +2-Part-1 25. (Journal/ Capital a/c/ Balance sheet) X and Y are partners sharing profits in ...
Question 26 Chapter 4 of +2- Part-
Question 26 Chapter 4 of +2-Part-1 26. (Adjustment of Capital) A, B and C were partners, sharing profits and losses ...

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