At the time of admission of a partner , general reserve appearing in the old Balance sheet is transferred to Options: A . &nbspAll partners capital account B . &nbspNew partner capital account C . &nbspOld partner capital account D . &nbspNone of the above

At the time of admission of a partner , general reserve appearing in the old Ba

Question

At the time of admission of a partner , general reserve appearing in the old Balance sheet is transferred to

Options:

A . All partners capital account

B . New partner capital account

C . Old partner capital account

D . None of the above

Answer: Option C

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Question 1. When the balance sheet is prepared after the new partnership agreement, the assets and liabilities are recorded at....

Question 2. On admission of a new partner balance of General Reserve Account should be transferred to the capital account of....

Question 3. At the time of admission of a new partner, ________ of assets and liabilities should be taken up....

Question 4. _________ ratio is computed at the time of admission of a new partner....

Question 5. The old partners share all the accumulated profits and reserves in their....

Question 6. On admission of a new partner, increase in value of assets is debited to....

Question 7. The difference between old profit sharing ratio and new profit sharing ratio at time of admission is ________ ratio....

Question 8. In admission, profit from revaluation of assets and liabilities will be transferred to the capital accounts of the old ....to the capital accounts of the old partners in the

Question 9. At the time of admission, when goodwill is raised, the old partners capital account will be credited in the ________ ra....partners capital account will be credited in the ________ ratio

Question 10. The capital accounts of partners may be ________ or fluctuating....

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