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Category: Accountancy

If some goodwill already exists in the books and the new partner brings in his share of goodwill in cash, how will you deal with existing amount of goodwill?

Class 12 Accountancy accounts
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On what occasions sacrificing ratio is used?

Class 12 Accountancy accounts
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What is sacrificing ratio? Why is it calculated?

Class 12 Accountancy accounts
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Why it is necessary to ascertain a new profit sharing ratio even for old partners when a new partner is admitted?

Class 12 Accountancy accounts
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Identify various matters that need adjustments at the time of admission of a new partner.

Class 12 Accountancy accounts
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How will you deal with a change in profit sharing ratio among existing partners? Take imaginary figures to illustrate your answer?

Accountancy accounts
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Illustrate how interest on drawings will be calculated under various situations.

Class 12 Accountancy accounts
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Explain why it is considered better to make a partnership agreement in writing.

Accountancy accounts
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Discuss the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts if there is no partnership deed.

Class 12 Accountancy accounts
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What is meant by partnership? Explain its chief characteristics? Explain.

Class 12 Accountancy accounts
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In the absence of a Partnership deed, specify the rules relating to the following:

Class 12 Accountancy accounts
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on the total amount withdrawn will be calculated?

Class 12 Accountancy accounts
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