-
Reconstruction lecture 1 basic ConceptsFree preview
-
Reconstruction of Partnership Text Book12 MB
Chapter 4: Reconstruction of Partnership Firm
In this course, we discuss the change in profit and loss sharing ratio or distribution ratio between the existing partners in detail.
Details
Let's take a look at the reasons for changes in a partnership:
1. Change in profit and loss sharing ratio between continuing partners.
2. Admission of existing partnership firm.
3. Retirement or death of a partner of an existing partnership firm.
Curriculum
-
Reconstruction lecture 2
-
Lecture 3 Reconstruction
-
Lecture 4 Q13 14
-
1. What is reconstruction of a partnership?1 m
-
2. What is revaluation account?1 m
-
3. What is sacrifice ratio?1 m
-
4. What is gain ratio ?1 m
-
5. How is the consolidated profit distributed?1 m
-
6. To which account revaluation account’s profit-loss is transferred?1 m
-
7. At which value assets-liabilities are shown in the balance sheet after revaluation?1 m
-
8. Which is the other name of revaluation account?1 m
-
Practice Quiz20 questions
-
1. Due to which reasons is it possible to make changes in profit and loss with the consent of all partners ?1 m
-
2. In which ratio is the goodwill amount brought by new partner distributed among the old partners?1 m
-
3. If there is decrease in the value of any debt where should it be recorded in Revaluation Account ?1 m
-
4. How is the workers' profit sharing fund distributed among the partners ?1 m
-
5. How are accumulated profit and reserves distributed among partners at the time of reconstruction of partnership firm ?1 m
-
6. What is the other name of Revaluation Account?1 m
-
7. Write the formula for sacrifice ratio.1 m
-
8. Write the formula for gain ratio.1 m
-
9. State the reasons/causes for reconstruction of partnership.1 m
-
10. What is revaluation of assets and liabilities?1 m
-
11. What is reconstruction of partnership?1 m
-
12. On which side of profit and loss adjustment account, discount reserve on debtors (D.R.D.) is to be shown?1 m
-
13. At what price are all assets and liabilities recorded in balance sheet after revaluation?1 m
-
14. After revaluation, is it necessary to prepare partners capital accounts?1 m
-
15. At the time of finding out sacrifice or gain ratio, if we get a negative answer (-), what does it suggest?1 m
-
16. What do the debit balance and credit balance of revaluation account suggest ?1 m
-
Chapter 4 Practice Material830 KB
-
One Line Answer and Theory1.1 MB
- 24 texts
- 1 quiz
- 3 PDFs
- 849+ students
- 24x7 support
Students' feedback
4 days ago
20 days ago
about 1 month ago
about 1 month ago
about 1 month ago