Question:
A and B are partners sharing profits in the ratio of 2:1. C is admitted for the 1/4th share of profits, who brings *20,000 as capital. After all adjustments related to goodwill, revaluation of assets and reassessment of liabilities etc, Capital of A and B are ₹45,000 and ₹15,000 respectively. It is agreed that partners capitals should be according to the new profit sharing ratio.
Determine the new capital of B.
A and B are partners sharing profits in the ratio of 2:1. C is admitted for the 1/4th share of profits, who brings *20,000 as capital. After all adjustments related to goodwill, revaluation of assets and reassessment of liabilities etc, Capital of A and B are ₹45,000 and ₹15,000 respectively. It is agreed that partners capitals should be according to the new profit sharing ratio.
Determine the new capital of B.
Determine the new capital of B.
Updated On: Apr 19, 2024
- ₹ 20,000
- ₹ 40,000
- ₹ 80,000
- ₹ 45,000
Hide Solution
Verified By Collegedunia
The Correct Option is A
Solution and Explanation
The correct option is (A): ₹ 20,000
Was this answer helpful?
0
0
Top Questions on Shares
- Arrange the following in the correct sequence of Accounting for Share Capital:
(A) Forfeiture of shares for non-payment of call
(B) Money received on allotment
(C) Profit on reissue of forfeited shares accounts transferred to capital reserve
(D) Money received on application
Choose the correct answer from the options given below: - In the absence of any information, the retiring/deceased partner’s share of profit will be acquired by the remaining partners in:
- The Balance in the Share Forfeited Account relating to reissue of forfeited shares will be treated as:
- Debit side of partner's current Account shows:
(A) Drawings made out of Capital
(B) Interest on Drawings
(C) Share of Loss on Revaluation
(D) Additional Capital Introduced
(E) Adjustment of Goodwill already appearing in Balance Sheet
Choose the correct answer from the options given below:
- Arrange the following steps in correct order.
(A) Calls in Arrears
(B) Reissue of shares
(C) Making calls
(D) Gain on Reissue transferred to Capital Reserve
(E) Forfeiture of shares
Choose the correct answer from the options 8iven below :
View More Questions
Questions Asked in CUET exam
- Who devised the concept of Intelligence Quotient (IQ)?
- CUET (UG) - 2024
- Psychological attributes
- A molecule X associates in a given solvent as per the following equation:
X ⇌ (X)n
For a given concentration of X, the van’t Hoff factor was found to be 0.80 and the
fraction of associated molecules was 0.3. The correct value of ‘n’ is:- CUET (UG) - 2024
- Solutions
- If \(A = \begin{bmatrix} 3 & 2 \\ -1 & 1 \end{bmatrix} \quad \text{and} \quad B = \begin{bmatrix} -1 & 0 \\ 2 & 5 \\ 3 & 4 \end{bmatrix},\)then \((BA)^T\) is equal to:
- CUET (UG) - 2024
- Matrices
- Two resistances of 100 \(\Omega\) and 200 \(\Omega\) are connected in series across a 20 V battery as shown in the figure below. The reading in a 200 \(\Omega\) voltmeter connected across the 200 \(\Omega\) esistance is _______.
Fill in the blank with the correct answer from the options given below- CUET (UG) - 2024
- Current electricity
- The equation of the tangent to the curve x5/2 + y5/2 = 33 at the point(1, 4) is:
- CUET (UG) - 2024
- Differential Calculus
View More Questions