Question : X, Y and Z were partners sharing profits and losses in the ratio of 4: 3: 2. Y retired on 1st April, 2020. On that date capitals of X, Y and Z after all adjustments stood at Rs. 19,650; Rs. 19,800 and Rs. 9,150 respectively. Total capital of the firm as newly constituted is fixed at Rs. 28,000 between X and Z in the proportion of 5/8th and 3/8th after passing entries in their accounts for adjustments. Amount to be paid or to be brought by the continuing partners is

Option 1: X debited by Rs 2,150, Z credited by Rs 1,350

Option 2: X credited by Rs 2,150 Z debited by Rs 1,350

Option 3: X debited by Rs 2,150 Z debited by Rs 1,350

Option 4: X credited Rs 2,150 and Y credited Rs 1,350

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

Question : X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership with 1/5th share in profits which he acquires equally from X and Y. Z brings in Rs.40,000 as goodwill in cash. Goodwill amount will be credited to -

Option 1: X: Rs.25,000; Y: Rs.15,000

Option 2: X: Rs.4,000; Y: Rs.4,000

Option 3: X: Rs.20,000; Y: Rs.20,000

Option 4: X: Rs.24,000; Y: Rs.16,000

Question : X and Y are partners sharing profit and losses in the ratio of 2: 1. They admit Z into partnership with 1/4th share in profits which he acquires equally from X and Y. Z brings in Rs. 1,65,000 as capital and Rs. 30,000 as goodwill in cash. Partners capital account will be credited with _____ and new profit sharing between partners will be............

Option 1: X's credited with Rs 20,000 and Y with Rs 10,000, NPSR 13: 5: 6

Option 2: X's credited with Rs 15,000 and Y with Rs 15,000, NPSR is 3: 2: 1

Option 3: X's credited with Rs 15,000 and Y with Rs 15,000, NPSR is 13: 5: 6

Option 4: None of the above

Question : X and Y are partners sharing profit and losses in the ratio of 4:1. They agreed to admit Z into partnership for 1/3 rd share in profit. It was agreed that X, Y and Z would share future profit equally in future. Z brought Rs 50,000 as goodwill for his 1/3rd share in profits. Choose the necessary journal entry that will be recorded for the treatment in the books of the firm.

Option 1: Debiting Z with Rs 50,000 and crediting X and Y with Rs 20,000 and Rs 30,000

Option 2: Bank account debiting Rs 50,000 and crediting Z's capital account with Rs 50,000

Option 3: Debiting Z with Rs 50,000 and Debiting Y with Rs 20,000 and crediting X with Rs 70,000

Option 4: Both 2 and 3