| 921 |
When an error in past profit distribution is corrected through partners' accounts, the total capital of the f… |
Accountancy/Book Keeping
Past adjustments |
Easy |
| 922 |
Past adjustments are usually recorded by passing |
Accountancy/Book Keeping
Past adjustments |
Easy |
| 923 |
A and B (capitals ₹60,000 and ₹40,000) share profits equally. Interest on capital at 10% was omitted last yea… |
Accountancy/Book Keeping
Past adjustments |
Medium |
| 924 |
In the same case (A and B with capitals ₹60,000 and ₹40,000, equal sharing, 10% interest omitted), what is th… |
Accountancy/Book Keeping
Past adjustments |
Medium |
| 925 |
Profit of ₹60,000 was wrongly shared equally between X and Y, instead of the agreed ratio 2:1. What adjustmen… |
Accountancy/Book Keeping
Past adjustments |
Hard |
| 926 |
Sacrificing ratio is calculated as |
Accountancy/Book Keeping
Change in profit-sharing ratio |
Easy |
| 927 |
On a change in profit-sharing ratio, accumulated reserves are distributed among partners in the |
Accountancy/Book Keeping
Change in profit-sharing ratio |
Easy |
| 928 |
A and B share profits 3:2. They decide to share equally in future. What is A's sacrifice? |
Accountancy/Book Keeping
Change in profit-sharing ratio |
Medium |
| 929 |
A and B change their ratio from 3:2 to 1:1. The firm's goodwill is ₹50,000. What is the adjustment entry? |
Accountancy/Book Keeping
Change in profit-sharing ratio |
Medium |
| 930 |
X, Y and Z share profits 5:3:2. They agree to share 2:3:5 in future. Which statement is correct? |
Accountancy/Book Keeping
Change in profit-sharing ratio |
Hard |
| 931 |
An increase in the value of an asset on revaluation is |
Accountancy/Book Keeping
Revaluation of assets and reassessment of liabilities |
Easy |
| 932 |
The profit or loss on revaluation is shared among |
Accountancy/Book Keeping
Revaluation of assets and reassessment of liabilities |
Easy |
| 933 |
On reconstitution, a provision for doubtful debts of ₹2,000 is created. How is it recorded? |
Accountancy/Book Keeping
Revaluation of assets and reassessment of liabilities |
Medium |
| 934 |
On revaluation, building rises by ₹20,000, stock falls by ₹5,000, a ₹2,000 provision for doubtful debts is cr… |
Accountancy/Book Keeping
Revaluation of assets and reassessment of liabilities |
Medium |
| 935 |
A firm has a debit balance of ₹12,000 in its Profit and Loss Account at the time of admitting a new partner. … |
Accountancy/Book Keeping
Revaluation of assets and reassessment of liabilities |
Hard |
| 936 |
Goodwill is classified as |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Easy |
| 937 |
Profits of the last three years were ₹40,000, ₹50,000 and ₹60,000. What is goodwill at two years' purchase of… |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Easy |
| 938 |
Which factor would normally increase the goodwill of a business? |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Medium |
| 939 |
Average profit is ₹60,000, capital employed ₹4,00,000 and normal rate of return 10%. What is goodwill at thre… |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Medium |
| 940 |
Super profit is ₹20,000 and the normal rate of return is 10%. What is goodwill by the capitalisation of super… |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Hard |