At the time of admission of a new partner, general reserve appearing in the old Balance Sheet is transferred to:
- old partners in old Profit Sharing Ratio
- old partners in new Profit Sharing Ratio
- old partners in new Profit Sharing Ratio
- all partners in the new Profit Sharing Ratio
The Correct Option is A
Solution and Explanation
Top Questions on Balance sheet statement
- In the Balance Sheet of a company, debentures are shown under which head?
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- The form of Balance Sheet as per Companies Act, 2013 is:
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Match List-I with List-II:
\[\begin{array}{|c|c|} \hline \text{List-I} & \text{List-II} \\ \hline \text{(A) Reserves and Surplus} & \text{(I) Share Options Outstanding Account} \\ \hline \text{(B) Non-current Liabilities} & \text{(II) Long-term provisions} \\ \hline \text{(C) Current Liabilities} & \text{(III) Short-term borrowing} \\ \hline \text{(D) Shareholder's Fund} & \text{(IV) Calls in arrear} \\ \hline \end{array}\]
Choose the correct answer from the options given below:
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(b) Capital Work-in-Progress
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