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Rao and reddy were partners in …

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Rao and reddy were partners in ratio 3:1.they admit kitty as new ratio 3:2:1.kitty brought 2 lakh as capital and 50,000 for his share of premium

    • Posted by Daljit Kaur 3 years, 1 month ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER
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    Ativ, Meha and Nupur were partners in a firm sharing profits and losses in the ratio of 5 : 3:2. On 31-03-2016 their Balance sheet was as under: Liabilities Amount (T) Assets Amount (R) | Trade Creditors 26,500 Bank 23.500 Debtors 1,00,000 Stock 50,000 Fixed Assets 40,000 Advertisement Expenditure 25,000 Employees Provident Fund Ativ's Capital Meha's Capital 30,000 55,000 1,20,000 Nupur's Capital 10,000 2,40,000 2,40,000 Ativ retired on 1-4-2016. For this purpose, the following adjustments were agreed upon: (i) Goodwill of the firm was to be valued at 2 years purchase of the average profits of 3 completed years preceding the date of retirement. The profit for previous years were: 2013-14 55,000; 2014-15 7 65,000; 2015-16 7 60,000.

    • Posted by Munni Lal 4 months, 1 week ago

    CBSE > Class 12 > Accountancy
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    • Posted by Mahi . 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Palak Kumari 3 months, 4 weeks ago

    CBSE > Class 12 > Accountancy
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    • Posted by Srishti Arya 1 month, 2 weeks ago

    CBSE > Class 12 > Accountancy
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    • Posted by Mohd Aman Mansoori 4 months ago

    CBSE > Class 12 > Accountancy
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    CBSE > Class 12 > Accountancy
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    • Posted by Palak Sharma 4 months ago

    CBSE > Class 12 > Accountancy
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    CBSE > Class 12 > Accountancy
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    CBSE > Class 12 > Accountancy
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    • Posted by Riya Chandan 4 months ago

    CBSE > Class 12 > Accountancy
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