Accountancy practice paper - 4(Topic :Fundamentals of Partnership Firm, Valuation of Goodwill ,Change in Profit Sharing Ratio, Admission of a Partner , Accounting for Share Capital....Financial Statements ... Accounting Ratio..... )
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Business studies practice paper-4( unit- 1,2,3,4,5 & 11)
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Business studies practice paper-3( unit- 1,2,3,4,5 & 11 )
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Business studies practice paper -2 ( unit- 1,2,3,4,5 & 11)
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Business studies practice paper -1 ( unit- 1,2,3, 4,5, & 11)
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Principles of Management & Business Environment( unit-2 & 3)
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Evolution and fundamentals of business ( unit-1)
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Social Responsibilities of business and Business Ethics ( Unit-6)
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Nature and Significance of Management ( Unit -1)
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Financial statement of a company (Question Bank)
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change in the profit sharing ratio ( Question Bank)
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change in the profit sharing ratio A, B and C were partners sharing profits and losses in the ratio of 7 : 5 : 4. From 1st April, 2016, they decided to share profits and losses in the ratio of 3 : 2 : 1. You are required to fill up the following journal entry: JOURNAL Date Particulars L.F. Dr. ₹ Cr. ₹ 2016 April 1 A's Capital A/c Dr. - B's Capital A/c Dr. - To C's Capital A/c (Adjustment for goodwill due to change in profit sharing ratio) 7,200 X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. They decide to share future profits and losses in the ratio of 2 : 3 : 5 with effect from 1st April, 2019. Following items appear in the Balance Sheet as at 31st March, 2019: