Question : Hari, Ravi and Kavi were partners in a firm sharing profits in the ratio of 3: 2: 1. They admitted Guru as a new partner for 1/7th share in the profits. The new profit-sharing ratio will be 2:2:2:1 respectively. Guru brought Rs. 3,00,000 for his capital and Rs. 45,000 for his 1/7th share of goodwill. Kavi's capital account at the time of adjustment of goodwill will be

Option 1: Credited Rs 37,500

Option 2: Debited Rs 37,500

Option 3: Credited Rs 45,000

Option 4: Debited Rs 15,000

Question : X, Y and Z are partners sharing profits in the ratio of 5: 3: 7. X retired from the firm. Y and Z decided to share future profits in the ratio of 2: 3. The adjusted Capital Accounts of Y and Z showed a balance of Rs. 49,500 and Rs. 1,05,750 respectively. The total amount to be paid to X is Rs .1,35,750. This amount is to be paid by Y and Z in a manner that their capital becomes proportionate to their new profit-sharing ratio. The amount to be brought or to be paid to partners will be

Option 1: Y bring Rs 66,000 and Z bring Rs 68,000

Option 2: Y bring Rs 66,900 and Z bring Rs 68,850

Option 3: Y withdrew Rs 66,900 and Z bring Rs 68,850

Option 4: Y bring Rs 66,900 and Z withdrew Rs 68,850

Question : A, B and C are partners in a firm sharing profits and losses in the ratio of 3: 2: 1. D is admitted as a new partner for 1/4 share in the profits of the firm, which he gets 1/8 from A, and 1/16 each from B and C. The total capital of the new firm after D's admission will be Rs. 2,40,000. D is required to bring in cash equal to 1/4 of the total capital of the new firm. The capitals of the old partners also have to be adjusted in proportion of their profit sharing ratio. The capitals of A, B and C after all adjustments in respect of goodwill and revaluation of assets and liabilities have been made are A Rs. 80,000 , B Rs. 30,000 and C Rs. 28,000 . Calculate the capitals of all the partners and record the necessary journal entries for doing adjustments in respect of capitals according to the agreement between the partners.

Option 1: A will bring Rs 10,000 , B brings Rs 35,000 and C withdrawn 3000

Option 2: A will bring Rs 10,000 and B withdrew Rs 35,000 and C bring Rs 3,000

Option 3: A bring Rs 10,000 and B withdrew Rs 35,000 and C withdrew Rs 3,000

Option 4: None of the above

Question : Krishna and Suresh were partners in a firm sharing profits in the ratio of 3: 1. With a capital of Rs 3,00,000 and Rs 2,00,000. On 1st April, 2015 they admitted Rahul as a new partner for 1/5 th share in profits of the firm. On the date of Rahul's admission the Balance Sheet of Krishna and Suresh showed a General Reserve of Rs. 1,20,000, a debit balance of Rs.60,000 in Profit and Loss A/c and Workmen Compensation Reserve of Rs. 1,50,000.

The following was agreed upon on Rahul's admission :
(i) Rahul will bring Rs. 1,50,000 as his capital and his share of goodwill premium in cash.
(ii) Goodwill of the firm be valued at Rs.2,40,000.
(iii) There was a claim of Workmen Compensation for Rs. 1,70,000,
(iii) The partners decided to share future profits in the ratio of 3: 1: 1.
The balance of partners capital after all adjustment and after admitted new partners will be

Option 1: Krishna's capital Rs 3,66,000 and Suresh 2,22,000 and Rahul Rs 1,50,000

Option 2: Krishna's capital account Rs 3,06,000 and Suresh Rs 2,02,000 Rahul Rs 1,50,000

Option 3: K's capital Rs 4,26,000 and Suresh Rs 3,42,000 and Rahul Rs 1,50,000

Option 4: None of the above

Question : A and B are partners in a firm sharing profits in the ratio of 7: 5. On April 1,2017 they admit $C$ as a new partner for $\frac{1}{6}$ th share. The new ratio will be 13:7:4.

C contributed the following assets towards his capital and for his share of goodwill : Stock Rs.60,000; Debtors Rs.80,000; Land Rs.2,00,000; Plant and Machinery Rs. 1,20,000. On the date of admission of $C$, the goodwill of the firm was valued at Rs. 7,50,000
The amount of capital contributed by the new partner will be----

Option 1: Rs 4,60,000

Option 2: Rs 3,35,000

Option 3: Rs 4,00,000

Option 4: Rs 4,50,000