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.
- Write a word/phrase/term which can substitute the following statement.
- State True or False with reason.
- Find the Odd one.
-
Calculate the following.
A and B are partners in a firm sharing profits and losses in the ratio of 1:1. C is admitted. A surrenders 1/4th share and B surrenders 1/5th of his share in favor of C. Calculate the new profit sharing ratio. -
Calculate the following.
Anika and Radhika are partners sharing profits in the ratio of 5:1. They decide to admit Sanika in the firm for 1/5th share. calculate the sacrifice ratio of Anika and Radhika. -
Calculate the following.
Pramod and Vinod are partners sharing profits and losses in the ratio of 3:2. After the admission of Ramesh the new ratio of Pramod, Vinod and Ramesh is 4:3:2. Find out the sacrifice ratio. - Answer the following.
PRACTICAL PROBLEMS [PAGES 161 - 167]
Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board Chapter 3 Reconstitution of Partnership (Admission of Partner) Practical Problems [Pages 161 - 167]
- Practical Problems | Q 1 | Page 161
- Practical Problems | Q 2 | Page 161
- Practical Problems | Q 3 | Page 162
- Practical Problems | Q 4 | Page 163
- Practical Problems | Q 5 | Page 163
- Practical Problems | Q 6 | Page 164
- Practical Problems | Q 7 | Page 164
- Practical Problems | Q 8 | Page 165
- Practical Problems | Q 9 | Page 166
- Practical Problems | Q 10 | Page 167
Book-keeping and Accountancy 12th Standard HSC Maharashtra State Board. Latest Syllabus.
- Chapter 1: Introduction to Partnership and Partnership Final Accounts
- Chapter 2: Accounts of ‘Not for Profit’ Concerns
- Chapter 3: Reconstitution of Partnership (Admission of Partner)
- Chapter 4: Reconstitution of Partnership (Retirement of Partner)
- Chapter 5: Reconstitution of Partnership (Death of Partner)
- Chapter 6: Dissolution of Partnership Firm
- Chapter 7: Bills of Exchange
- Chapter 8: Company Accounts - Issue of Shares
- Chapter 9: Analysis of Financial Statements
- Chapter 10: Computer In Accounting
ACCOUNTS BOARD PAPERS
- HSC Accounts March 2020 Board Paper With Solution
- MARCH 2014 : View| PDF Download
- OCTOBER 2014 View| PDF Download
- MARCH 2015 View| PDF Download
- JULY 2015 View| PDF Download
- MARCH 2016 View| PDF Download
- JULY 2016 View| PDF Download
- JULY 2017 View| PDF Download
- MARCH 2017 View| PDF Download
- MARCH 2018 View| PDF Download
- JULY 2018 View| PDF Download
- MARCH 2019 View| PDF Download
- MARCH 2020 View| PDF Download
Important Study Material
- ACCOUNTANCY PAPER PATTERN: New 2020, Old View| PDF Download
- PROFORMA OF TRADING ACCOUNT: View| PDF Download
- PROFORMA OF PROFIT & LOSS ACCOUNT: View| PDF Download
- PROFORMA OF BALANCE SHEET: View| PDF Download
- FINAL ACCOUNT ADJUSTMENTS: View| PDF Download
- SINGLE ENTRY : View| PDF Download
- FINAL ACCOUNT : View| PDF Download
- NPO : View| PDF Download
- BILL OF EXCHANGE : View| PDF Download
- FORMAT OF BILL : View| PDF Download
- ADMISSION OF A PARTNER : View| PDF Download
- RETIREMENT OF PARTNER : View| PDF Download
- DEATH OF PARTNER : View| PDF Download
- ACCOUNTING FOR SHARES : View| PDF Download
- DISSOLUTION OF PARTNERSHIP FIRM : View| PDF Download
- VALUATION OF GOODWILL WITH SOLUTION: View| PDF Download
- FORMAT OF FINAL ACCOUNT : View| PDF Download
- INTRODUCTION TO PARTNERSHIP : View| PDF Download
ACCOUNTS BOARD PAPERS WITH SOLUTION
MARCH 2014, OCTOBER 2014, MARCH 2015, JULY 2015, MARCH 2016, JULY 2016, JULY 2017, MARCH 2017, MARCH 2018, JULY 2018, MARCH 2019, MARCH 2020
IMPORTANT PRACTICE PAPER FOR BOARD EXAM 2020
Key Accountancy Terms Explained
Reconstitution of Partnership: Changing the existing agreement between partners, which can happen due to admission, retirement, or death of a partner, or a change in the profit-sharing ratio.
Admission of Partner: When a new person joins an existing partnership firm as a partner.
Sacrifice Ratio: The proportion in which old partners agree to give up their share of profit in favour of a new partner.
New Profit Sharing Ratio: The new proportion in which all partners (including the new or remaining partners) will share future profits and losses of the firm.
Goodwill: The good name or reputation of a business, which helps it earn more profit. It's an intangible asset.
Revaluation Account: An account prepared to record changes in the value of assets and liabilities when a partnership is reconstituted.
Assets: Things of value owned by a business (e.g., cash, buildings, machinery, stock).
Liabilities: Amounts owed by the business to outsiders (e.g., loans, creditors).
Book-keeping: The process of recording daily financial transactions in an orderly manner.
Accountancy: The process of recording, classifying, summarizing, interpreting, and communicating financial information.
HSC (Higher Secondary Certificate): An examination taken by students in India after completing their senior secondary education (usually 12th grade).
Syllabus: A list of topics or subjects to be covered in a course of study.
Proforma: A standard document or a template showing the form or layout of something (e.g., Proforma of a Balance Sheet).
Trading Account: An account prepared to find out the gross profit or gross loss of a business during a specific period.
Profit & Loss Account: An account prepared to find out the net profit or net loss of a business during a specific period.
Balance Sheet: A statement showing the financial position of a business by listing its assets and liabilities on a specific date.
Adjustments: Changes or corrections made to accounts at the end of an accounting period to present a true and fair view of the financial statements.
Dissolution of Partnership Firm: The process of ending the partnership business, selling its assets, and paying off its liabilities.