CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Adjustment in Partner's Capital A/c

X and Y are s...

Question

X and Y are sharing profits in the ratio of 2: 1. They admitted Z into the firm with 1/4 shares in profits for which he brings 15,000 as his share of capital. The partners decide to have their capitals according to the new profit sharing ratio. As a result, the adjusted capital of Y will be:

A

10,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

15,000

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

16,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

24,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A 15,000
Overall capital of the firm = 15000 * 4/1 = 60000
New PSR = 2 : 1 : 1
Y's Capital = 60000 * 1 / 4 = Rs 15000

Suggest Corrections

thumbs-up

0

Similar questions

$X$ and $Y$ are partners sharing profits in the ratio of $2 : 1$ . They admit $Z$ into the partnership for ${\frac{1}{4}}^{t h}$ share in profit for which he brings in Rs. $20, 000$ as his share capital. Hence, the adjusted capital of $X$ and $Y$ will be __________ .

Q. X and Y are partners sharing profits and losses in the ratio of 3 : 1. Z is admitted into partnership for 1

/ 5^{th}

share in profits for which he brings ₹ 25,000 as his share of capital. Hence, the adjusted capital of X and Y will be:

[0.88 marks]

Q. C was admitted in a firm with

1 / 4

th share of the profits of the firm. C contributes Rs.

15, 000

as his capital, A & B are other partners with the profit sharing ratio as

3 : 2

. Find the required capital of A & B, if capital should be in profit sharing ratio taking C's as base capital : _________.

Q. A and B are in partnership with Rs.30,000 and Rs. 20,000 as their respective Capitals. They admitted C as a partner for 1/6th share in profits. The amount of C's share In the Capital of the firm if he is asked to bring in Capital in proportion to his profit sharing ratio will be ________.

Q. A and B are partners in a firm and are sharing in the ratio of

3 : 2

. C is admitted for

1 / 5

share of profit and brings

R s . 10, 000

as capital. The adjusted capital of B will be ____________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Let’s Settle

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Adjustment in Partner's Capital A/c

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon