Home › Bihar Board Class 12 (Commerce) › Accountancy › Reconstitution of a Partnership Firm › A, B share profits 4:1 and admit C. General rese…
A, B share profits 4:1 and admit C. General reserve is Rs 20,000. How much is credited to A's capital account?
ARs 4,000
BRs 10,000
CRs 20,000
DRs 16,000
Answer & Solution
Correct answer: D. Rs 16,000
The reserve goes to old partners in the old ratio 4:1, so A gets 4/5 of 20,000, which is 16,000.
Related questions
A, B, C share 5:3:2 and C retires. A and B continue in the old ratio. What is their gaininThe new profit sharing ratio after retirement is the ratio in which whom share future profAccumulated losses at retirement are debited to all partners' capital accounts in which raRetiree's adjusted capital is Rs 60,000 but he is paid Rs 72,000. Hidden goodwill?A retiring partner is paid a lump sum above his adjusted capital. The excess is treated asOn retirement, the goodwill share of the outgoing partner is borne by whom?Annual profit is Rs 1,20,000. A 1/4 partner dies after 3 months. His profit share?The sum due to a retiring partner may include his share of profit up to what date?