Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
1 Marks
Question 1: [2024C]
Renu, Trilok, and Mansi were partners in a firm sharing profits and losses in the ratio of 9:6:5. Hina was admitted as a partner for a 1/10 share in the profits, which she acquired equally from Renu and Trilok. The new profit-sharing ratio after Hina’s admission will be:
(A) 5:5:2:8
(B) 5:5:8:2
(C) 8:2:5:5
(D) 8:5:5:2
Answer
(D) 8:5:5:2
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
Question 2: [2024C]
Ashu and Ria were partners in a firm sharing profits and losses in the ratio of 4:3. They admitted Nitu for a 3/7 share in the profits of the firm, which she took 2/7 from Ashu and 1/7 from Ria. The new profit-sharing ratio between Ashu, Ria, and Nitu will be:
(A) 4:3:3 (B) 2:1:3 (C) 2:2:3 (D) 4:3:2
Answer
(C) 2:2:3
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
Question 3: [2024C]
Kamini, Lata, and Meera were partners in a firm sharing profits and losses equally. Neel was admitted as a new partner for an equal share in the profits of the firm. Neel brought his share of capital and premium for goodwill in cash. On the date of admission of Neel, goodwill appeared in the books at ₹1,20,000. The existing goodwill is to be written off among:
(A) Old partners in old ratio
(B) New partners in new ratio
(C) Sacrificing partners in sacrificing ratio
(D) Old partners in sacrificing ratio
Answer
(A) Old partners in old ratio
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
Question 4: [2024C]
Arjun, Babita, and Charlie were partners in a firm sharing profits in the ratio of 2:2:1. They admitted Dheeraj for a 1/5th share in the profits of the firm. He has to contribute proportionate capital to acquire a 1/5th share in future profits. On the date of admission, the capitals after all adjustments relating to goodwill and revaluation of assets and liabilities were : Arjun: ₹62,000, Babita: ₹52,000, Charlie: ₹36,000. The capital brought by Dheeraj will be:
(A) ₹37,500 (B) ₹30,000 (C) ₹32,500 (D) ₹35,000
Answer
(A) ₹37,500
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
Question 5: [2024]
Atul, Beena and Sita were partners in a firm sharing profits and losses in the ratio of 8 : 7 : 5. Damini was admitted as a new partner for 1/5th share in the profits which she acquired entirely from Atul. The new profit sharing ratio after Damini’s admission will be :
(A) 7 : 7 : 5 : 1 (B) 4 : 7 : 5 : 4 (C) 8 : 7 : 5 : 4 (D) 7 : 5 : 8 : 4
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
Question 6:[2024]
Rushil and Abheer were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted Sunil as a new partner for 3/7th share in the profits of firm, which he acquired 2/7th share from Rushil and 1/7th share from Abheer. The new profit sharing ratio of Rushil, Abheer and Sunil will be :
(A) 4 : 3 : 3 (B) 2 : 1 : 3 (C) 2 : 2 : 3 (D) 4 : 3 : 1
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
Question 7: [2024]
Piyush, Rajesh and Avinash were partners in a firm sharing profits and losses equally. Shiva was admitted as a new partner for an equal share. Shiva brought his share of capital and premium for goodwill in cash. The premium for goodwill amount will be divided among :
(A) Old partners in old ratio
(B) New partners in new ratio
(C) New partners in sacrificing ratio
(D) Old partners in sacrificing ratio
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
Question 8: [2024]
Alex, Benn and Cole were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted Dona as a new partner for 1/5th share in the future profits. Dona agreed to contribute proportionate capital. On the date of admission, capitals of Alex, Benn and Cole after all adjustments were ₹ 1,20,000; ₹ 80,000 and ₹ 1,00,000 respectively.
The amount of capital brought in by Dona will be :
(A) ₹ 75,000 (B) ₹ 60,000 (C) ₹ 65,000 (D) ₹ 70,000
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
6 Marks
Question 1: [2024C]
Anshu and Vihu were partners in a firm sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March 2023 was as follows:
Balance Sheet of Anshu and Vihu as at 31st March 2023
| Liabilities | Amount (₹) | Assets | Amount (₹) |
|---|---|---|---|
| Creditors | 80,000 | Cash | 40,000 |
| General Reserve | 50,000 | Debtors 36,000 | |
| Investment Fluctuation Fund | 10,000 | Less: Provision for Doubtful Debts (2,000) | 34,000 |
| Capitals: | Stock | 30,000 | |
| Anshu – 1,44,000 | Investments | 40,000 | |
| Vihu – 80,000 | 2,24,000 | Plant & Machinery | 2,20,000 |
| Total | 3,64,000 | Total | 3,64,000 |
On 1st April 2023, Mani was admitted into partnership for 1/5th share in the profits of the firm on the following terms:
(i) Mani brought ₹20,000 as her share of goodwill and proportionate capital.
(ii) Provision for doubtful debts was to be maintained at 10% of debtors.
(iii) Market value of investments was ₹35,000.
(iv) The value of Plant and Machinery was increased by ₹6,600.
Prepare Revaluation Account and Partners’ Capital Accounts.
Important Questions of Class 12 Accountancy Ch-4 Admission of Partner
