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12th Standard English Medium Accountancy Subject Retirement and Death of a Partner Book Back 2 Mark Questions with Solution Part - I Question Bank Software Jun-02 , 2021

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12th Standard English Medium Accountancy Subject Retirement and Death of a Partner Book Back 2 Mark Questions with Solution Part - I

12th Standard English Medium Accountancy Subject Retirement and Death of a Partner Book Back 2 Mark Questions with Solution Part - I

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10

    Part I

    5 x 2 = 10

  1. What is the purpose of calculating gaining ratio?

  2. Dheena, Surya and Janaki are partners sharing profits and losses in the ratio of 5:3:2. On 31.3.2018, Dheena retired. On the date of retirement, the books of the firm showed a reserve fund of Rs. 50,000. Pass journal entry to transfer the reserve fund.

  3. Kayal, Mala and Neela are partners sharing profits in the ratio of 2:2:1. Kayal retires and the new profit sharing ratio between Nila and Neela is 3:2. Calculate the gaining ratio.

  4. Ramu, Somu, Gopu are partners sharing profits in the ratio of 3 : 5 : 7. Gopu retires and the share is purchased by Ramu and Somu in the ratio of 3 : 1. Find the new profit sharing ratio and gaining ratio

  5. Mani, Gani and Soni are partners sharing the profits and losses in the ratio of 4:5:6. Mani retires from the firm. Calculate the new profit sharing ratio and gaining ratio.

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