On admission of a new partner balance of General Reserve Account should be transferred to the capital account of Options: A . &nbspall partners in their new profit sharing ratio B . &nbspold partners in their old profit sharing ratio C . &nbspold partners in their new profit sharing ratio D . &nbspNone of these

On admission of a new partner balance of General Reserve Account should be tran

Question

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

Options:

A . all partners in their new profit sharing ratio

B . old partners in their old profit sharing ratio

C . old partners in their new profit sharing ratio

D . None of these

Answer: Option B

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Question 1. At the time of admission of a new partner, ________ of assets and liabilities should be taken up....

Question 2. _________ ratio is computed at the time of admission of a new partner....

Question 3. The old partners share all the accumulated profits and reserves in their....

Question 4. On admission of a new partner, increase in value of assets is debited to....

Question 5. The difference between old profit sharing ratio and new profit sharing ratio at time of admission is ________ ratio....

Question 6. 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 7. 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 8. The capital accounts of partners may be ________ or fluctuating....

Question 9. Indian Partnership Act was enacted in the year ________....

Question 10. If a firm is maintaining both ‘Capital Accounts’ and ‘Current Accounts’ of the partners A and B....

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