After making provision for claim if any, balance of workmen's compensation reserve is distributed among _ partners in their _ ratio:

New, New

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Old, New

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New, Old

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Old, Old

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Solution

The correct option is D Old, Old
After making provision for claim if any, balance of workmen's compensation reserve is distributed among old partners in their old ratio:

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Similar questions

Q. On the death of a partner, the remaining balance in workmen compensation reserve is transferred to partner's capital account in their ratio.

A, B and C are partners sharing profits and losses in the ratio of 2:2:1. They admitted D for $\frac{1}{4} t h$ share with effect from 1st April, 2017. An extract of their Balance Sheet as at 31st March, 2017 is as follows:

$\begin{matrix} Capital and Liabilities & Rs & Assets & Rs Workmen Compensation Reserve & 80, 000 \end{matrix}$

Show the accounting treatment under the following alternative cases:

Case 1. If then is no other information.

Case 2. If a claim for workmen compensation is estimated at Rs 50,000.

Case 3. If a claim for workmen compensation is estimated at Rs 80,000.

Case 4. If a claim for workmen compensation is estimated at Rs 1,00,000.

Q. The workmen compensation reserve has a balance of Rs. 70,000 and a claim of Rs. 10,000. So, rupees can be transferred to realisation account.

Q. The workmen compensation reserve has a balance of Rs.70,000 and a claim of Rs.10,000. So, rupees can be transferred to partner's capital account

Q. Credit balance of Profit & Loss Account shown in the liabilities side is accumulated profit and at the time of admission of a new partner, it is fully distributed among old partners in their old ratio.

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After making provision for claim if any, balance of workmen's compensation reserve is distributed among ___ partners in their ___ ratio:

The correct option is D Old, OldAfter making provision for claim if any, balance of workmen's compensation reserve is distributed among old partners in their old ratio:

After making provision for claim if any, balance of workmen's compensation reserve is distributed among _ partners in their _ ratio:

The correct option is D Old, Old
After making provision for claim if any, balance of workmen's compensation reserve is distributed among old partners in their old ratio: