Question : R, S and T are partners. Before changing their profit-sharing ratio to 5:3:2, they were sharing profit equally. Workmen's compensation reserve exited at Rs 1,00,000 against which a claim existed at Rs 20,000. The total amount that will be credited to their capital accounts in their old profit-sharing ratio will be?

Option 1: Rs 1,00,000

Option 2: Rs 80,000

Option 3: Rs 1,00,000 credited and Rs 20,000 debited 

Option 4: Rs 20,000 credited and Rs 1,00,000 debited 

Question : P, Q and R are equal partners with fixed capitals of Rs. 5,00,000, Rs. 4,00,000 and Rs. 3,00,000, respectively. After closing the accounts for the year ending 31st March 2019. It was discovered that interest on capital @ 7% instead of 9% p.a. In the adjustment entry.

Option 1: P will be credited by Rs. 2,000 and
Q will be debited by Rs. 2,000.

Option 2: P will be debited by Rs. 2,000 and
Q will be credited by Rs. 2,000

Option 3: P will be debited by Rs. 2,000 and
R will be credited by Rs. 2,000.

Option 4: P will Be credited By Rs. 2,000 and
R will Be debited by Rs. 2000

Question : P, Q and R are equal partners with fixed capitals of Rs. 5,00,000, Rs. 4,00,000 and Rs. 3,00,000, respectively. After closing the accounts for the year ending 31st March 2019. It was discovered that interest on capital @ 7% instead of 9% p.a. In the adjustment entry.

Option 1: P will be credited by Rs. 2,000 and
Q will be debited by Rs. 2,000.

Option 2: P will be debited by Rs. 2,000 and
Q will be credited by Rs. 2,000

Option 3: P will be debited by Rs. 2,000 and
R will be credited by Rs. 2,000.

Option 4: P will Be credited By Rs. 2,000 and
R will Be debited by Rs. 2000

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 : X, Y and Z are partners in a firm sharing profits in the ratio of 3: 2: 1. On 1 st April, 2009, retires from the firm .X and Z agree that the capital of the new firm shall be fixed at Rs. 2,10,000 in the profit-sharing ratio.The Capital Accounts of X and Z after all adjustments on the date of retirement showed balance of Rs. 1,45,000 and Rs. 63,000 respectively. the amount of actual cash to be brought in or to be paid to the partners will be

Option 1: Z debited Rs 10,500 and X credited by Rs 12,500

Option 2: Z debited Rs 10,500 and X debited by Rs 12,500

Option 3: Z credited by Rs 10,500 and xcredited by Rs 12,500

Option 4: Z debited by Rs 10,500 and Y credited by Rs 12,500