Arrange the following steps in correct order for calculation of Proportionate Capital of New Partner. (A) Balancing the capital account of old partners (B) Calculation of Gain/Loss on Revaluation and transferring to Capital Account (C) Transferring Accumulated Profit to Capital account (D) Calculation of Proportionate Capital for New Partner (E) Adjustment for Goodwill in Partner's capital account Choose the correct answer from the options given below:

Question

Arrange the following steps in correct order for calculation of Proportionate Capital of New Partner. (A) Balancing the capital account of old partners  (B) Calculation of Gain/Loss on Revaluation and transferring to Capital Account  (C) Transferring Accumulated Profit to Capital account  (D) Calculation of Proportionate Capital for New Partner  (E) Adjustment for Goodwill in Partner's capital account  Choose the correct answer from the options given below:

cdquestions Admin · Accepted Answer

The correct option is (C) :(B), (E), (C), (A), (D)

Answer

(D), (C), (A), (E), (B)

Answer

(D), (A), (C), (E), (B)

Answer

(B), (E), (C), (A), (D)

Answer

(D),(C),(A),(B),(E)

LIST I		LIST II
A	Goodwill written off	I	Credit side of Profit and Loss A/c
B	Partner's Salary	II	Debit side of Partner's Capital A/c
C	Bad Debts Recovered	III	Debit side of Profit and Loss A/c
D	Manager's Commission	IV	Credit side of Partner's Capital A/c

The Correct Option is C

Solution and Explanation

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