Important questions of admission of a partner class 12 pdf | Practical Problems NO. 7

Chapter .3

Admission of Partner

Books Page No. 164

Practical Problems NO. 7

7. The balance sheet of Medha and Radha who share profit and loss in the ratio 3:1 is as follows:

They decided to admit krutika on 1st April 2018 on the following terms:

1. Krutika is taken as partner on 1st April 2017 she will pay 40,000 as her capital for 1/5 share in future profits and ₹ 2,500 as goodwill

2. A 5% provision for bad and doubtful debt be created on debtors.

3. Furniture be depreciated by 20%.

4. Stocks be appreciated by 5% and plant & machinery by 20%

5. The Capital accounts of all partners be adjusted in their new profit sharing ratio by adjusting amount through loan.

6. The new profit sharing ratio will be 3/5 1/5 1/5 respectively.

You are required to prepare profit and loss adjustment A/c, Partner’s capital A/c, Balance Sheet of the new firm.

ANS:

Working Note: -

1) Cash in hand

(In old balance sheet) 80000 + 140000 (capital and goodwill brought in) = 220000

2) Revaluation Account

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More 12 STD Chapter .3 Admission of Partner

Practical Problems link

 

More 12 STD Chapter .3 Admission of Partner

Practical Problems link

 

Practical Problems. 1

https://www.surajpateleducation.com/2022/11/admission-of-partner-12th-commerce.html

 

Practical Problems. 2

https://www.surajpateleducation.com/2022/11/12th-accounts-chapter-3-practical.html

 

Practical Problems. 3

https://www.surajpateleducation.com/2022/11/admission-of-partner-12th-commerce_2.html

 

Practical Problems. 4

https://www.surajpateleducation.com/2022/11/12th-commerce-book-keeping-accountancy.html

 

Practical Problems. 5

https://www.surajpateleducation.com/2022/11/accountancy-class-12-admission-of.html

 

Practical Problems. 6

https://www.surajpateleducation.com/2022/11/accountancy-class-12-admission-of_10.html

 

Practical Problems. 7

https://www.surajpateleducation.com/2022/11/important-questions-of-admission-of.html

 

Practical Problems. 8

https://www.surajpateleducation.com/2022/11/solutions-class-12-admission-of-partner.html

 

Practical Problems. 9

https://www.surajpateleducation.com/2022/11/admission-of-partner-12th-commerce-book.html

 

Practical Problems. 10

https://www.surajpateleducation.com/2022/11/12th-commerce-bk-admission-of-partner.html

 

 

12 STD Partnership Final Accounts

Illustrations Problems Link

 

Illustrations No.1

https://www.surajpateleducation.com/2022/08/introduction-to-partnership-and.html

 

Illustrations No.2

https://www.surajpateleducation.com/2022/08/introduction-to-partnership-and_16.html

 

Illustrations No.3

https://www.surajpateleducation.com/2022/08/introduction-to-partnership-and_45.html

 

Illustrations No.4

https://www.surajpateleducation.com/2022/08/introduction-to-partnership-and_23.html

 

Illustrations No.5

https://www.surajpateleducation.com/2022/08/introduction-to-partnership-and_37.html