Debit side of Trading Account Debit side of Profit and Loss Account Assets side in Balance Sheet None of these Answer 4. None of these
A and B are partners sharing profit and loss in the ratio of 3 : 2 . They admitted C for 1/5 share of profit. C brings Rs. 35,000 for goodwill. Their new profit ratio is 5 : 3 : 2. A and B will be credited for goodwill by _____and_____respectively :
Rs. 21,000/- and Rs. 14,000/- Rs. 17,500/- and Rs. 10,500/ Rs. 17,500/- and Rs. 17,500/- Rs. 20,000/- and Rs. 15,000/- Answer 3. Rs. 17,500/- and Rs. 17,500/-
A, B and C are partners in proportion of 5 : 3 : 2 respectively. D is admitted in the firm as a partner with 1/5 of share. New ratio will be :
5 : 3 : 2 : 1 10 : 6 : 5 : 4 10 : 4 : 6 : 5 10 : 6 : 4 : 5 Answer 4. 10 : 6 : 4 : 5
Trial balance is prepared with the help of :
Purchases book and sales book Cash book and journal Cash book and ledger All subsidiary books Answer 3. Cash book and ledger
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