Question : At the time of admission of a partner, what will be the effect of the following information? Balance in Workmen compensation reserve Rs. 28,000. Claim for workmen compensation Rs. 20,000.

Option 1: Rs. 28,000 Debited to the Partner's capital Accounts. 

Option 2: Rs. 2,000 Debited to Revaluation Account.

Option 3: Rs. 8,000 Credited to the Partner's capital Accounts.

Option 4:  Rs. 20,000 to Debited Revaluation Account 

Question : At the time of admission of a partner, what will be the effect of the following information? Balance in Workmen compensation reserve Rs. 1,40,000. Claim for workmen compensation Rs. 1,10,000.

Option 1: Rs. 1,40,000 Debited to the Partner's Capital Accounts. 

Option 2: Rs. 1,10,000 Debited to Revaluation Account.

Option 3: Rs. 30,000 Credited to the Partner's Capital Accounts.

Option 4: Rs. 30,000 to Debited Revaluation Account.

Question : At the time of admission of a partner, what will be the effect of the following information? Balance in Workmen compensation reserve Rs. 20,000. Claim for workmen compensation Rs. 45,000.

Option 1: Rs. 5,000 Debited to the Partner's capital Accounts. 

Option 2: Rs. 40,000 Debited to Revaluation Account.

Option 3: Rs. 25,000 Debited to Revaluation Account.

Option 4: Rs. 40,000 Credited to Revaluation Account.

Question : A, B, C and D are partners sharing profits in the ratio of 1:4:3:2. D died on 15th December 2021 and the goodwill is valued at Rs.2,00,000. D's share of goodwill is to be adjusted into the capital accounts of A, B and C who decide to share future profits in the ratio of 4:3:3. Choose the correct journal entry.

Option 1: A debited by Rs 60,000 and debited B by Rs 20,000 and credited D by Rs 80,000

Option 2: Debited A by Rs 60,000 and credited B by Rs 20,000 and credited D by Rs 40,000

Option 3: Debited A by Rs 40,000 and B debited by Rs 40,000 and Credited D by Rs 80,000

Option 4: None of the above

Question :  Anil and Sunil are partners sharing profit and losses in the ratio of 3:2. They changed their profit-sharing ratio to 2:5 w.e.f 1st April 2002. The assets were revalued and liabilities were re-assessed on that date which resulted in a gain of Rs 80,000. It will be transferred to their capital account by 

Option 1: Debiting Anil and Sunil's accounts both by Rs 40,000 each 

Option 2: Debiting Anil‘s capital account and Sunil‘s capital account by Rs 80,000 each 

Option 3: Crediting Anil’s capital account by RS 48,000 and Sunil's Capital account by Rs 32,000

Option 4: Crediting Anil’s capital account and Sunil's capital account by Rs 80,000 each