Net Assets minus capital reserve is:
Anonymous Quiz
41%
Purchase Consideration
23%
Goodwill
19%
Total Assets
16%
Liquid assets
Those who have attended last online class of accounts, we have covered the topic of guarantee, here are two questions that everyone has to solve and see the progress
P, Q and R are partners in 3:2:1. R is guaranteed that his share of profit will not be less than 70,000. Any deficiency will be borne by P and Q in the ratio of 2:1. firm's profit was Rs. 2,40,000, Share of P will be:
Anonymous Quiz
43%
1,00,000
20%
1,10,000
27%
1,20,000
10%
1,02,000
X, Y and Z are partners in 5:4:1. Z is guaranteed that his share of profit will not be less than Rs.80,000, Any Deficiency will be borne by X and Y in 3:2. Firm's profit was Rs. 5,60,000. How much deficiency will be borne by Y?
Anonymous Quiz
24%
2,14,400
25%
14,400
17%
2,09,600
33%
9,600
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A duplicate copy of the credit note is retained by ----------- for the record purpose.
Anonymous Quiz
19%
Buyer
38%
Seller
12%
Customer
31%
Both B and C
Hopefully, you are ready to solve the answers. these are also PYQ's
C. F and S were partners in a firm sharing profits and losses in the ratio of 5:4:1. F died on 30 June 2021. The firm earned a net profit of Rs. 3,00,000 for the year ended 31 March 2021 the deceased partner's share in the year of his death was to be calculated on the basis of sales. The sales for the year ended 31 March 2021 were calculated to 24,00,000 whereas the sales for 1 April 2021 to 30 June 2021 were Rs. 4,00,000, calculate F's share in the profit till the date of his death and necessary journal entries for the same
Solution of the above question will be shared with you by 4PM
X and Y were partners sharing profits in the ratio of 3:2. Z was admitted as a new partner for 1/5th share. X sacrificed 3/20 from his share and Y sacrificed 1/20 from his share in favour of Z, the new profit sharing would be:
Anonymous Quiz
44%
9:7:4
25%
8:8:4
21%
6:10:4
10%
10:6:5
Mallika Meera and Madhu are partners sharing profit in the ratio of 2:2:1. they decided to share future profits in the ratio of 7:5:3 with effect from 1 April 2021. Their balance sheet as on that date showed a balance of ₹30,000 in advertisement suspense
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60%
Rs. 12,000(Dr); Rs. 12,000(Dr) and Rs. 6000(Dr) respectively to the capital accounts of Mallika, Mee
19%
Debit Rs. 10,000 each of all Partner's capital Accounts.
13%
Debit Meera's capital a/c and credit Mallika's capital a/c by Rs. 2,000
8%
Debit Mallika's capital A/c and Credit Meera's capital A/c by Rs. 2,000 each
If the value of average propensity to consume (APC) IS 0.8 and National Income is Rs. 4000 crore. the value of savings will be --------------------
Anonymous Quiz
10%
100 crores
25%
200 crores
47%
800 crores
18%
500 crores