Accountancy worksheet

1. SUBJECT – ACCOUNTANCY
CLASS- XII
CHAPTER- ADMISSION OF A PARTNER
WORSHEET NO. 11
1. How can a new partner be admitted ?
2. Give two main rights acquired by a new partner.
3. State any one purpose of admitting a new partner to a firm.
4. Unless stated otherwise what will be the ratio of sacrifice of the old partners
given in case of admission of a new partner ?
5. State the ratio in which partners share the gain or loss on revaluation assets
and liabilities.
6. Under what circumstances premium of goodwill paid by the incoming partner
would never be recorded in the books of account ?
7. What is meant by “HIDDEN GOODWILL” ?
8. Why are assets and liabilities revalued on the admission of a new partner?
9. State with reason whether at the time of admission a partner partnership is
dissolved or partnership firm is dissolved.
10. A and B are partners in a firm sharing profits and losses in the ratio of 4:3.
They admitted C as a new partner. The new profit sharing ratio between A,B,C
was 3:2:2 . A surrendered 1/4th
of his share in favour of C. Calculate B’s
sacrifice.
11. A and B were partners in a firm sharing profits and losses in the ratio of 5:3.
They admitted C as new partner. The new profit sharing ratio between A,B,C is
3:2:3 . A surrendered 2/5th
of his share in favour of C. Calculate B’s sacrifice.
12. A and B were partners in a firm sharing profits and losses in the ratio of 3:1 . C
was admitted as a new partner for 1/6th
share in the profit . C acquired 2/5th
0f his share from A . How much share did C acquire from B .