Select appropriate alternatives | Aster Classes

Balbharati, Solutions, for, Book-keeping, and, Accountancy, 12th, Standard, HSC, Maharashtra, State, Board,Chapter 3, Reconstitution of Partnership, (Admission of Partner),

Select appropriate alternatives, from those given below and rewrite the sentence,

Anuj and Eeshan are two partners sharing profits and losses in the ratio of 3:2. They decided to admit Aaroh for 1/5th share, the new profit sharing ratio will be ____________

12 : 8 : 5

4 : 3 : 1

12 : 8 : 1

12 : 3 : 1


Excess of proportionate capital over actual capital represents _________

Equal capital

Surplus Capital

Deficit Capital

Gain


__________ is credited when an unrecorded asset is brought into the business.

Revaluation Account

Balance Sheet

Trading Account

Partners capital Account


When goodwill is withdrawn by the partner________account is credited.

Revaluation

Cash/Bank

Current

Profit and Loss Adjustment


If the asset is taken over by the partner_________ account is debited.

Revaluation

Capital

Asset

Balance Sheet


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