Question : Which of the following statement is in correct with respect of adjustment of capitals?
Option 1: Ascertain Adjusted Capital of remaining partners (after all adjustments).
Option 2: Calculate Proportionate Capital of remaining partners on the basis of total capital of the new firm and new profit-sharing ratio
Option 3: Find Surplus Capital/Deficit Capital of each continuing partner by comparing Proportionate Capital and Present Adjusted Capital. Surplus Capital: When Present Adjusted Capital is more than the proportionate Capital. Deficit Capital: When Present Adjusted Capital is less than the Proportionate Capital.
Option 4: All of the above
Correct Answer: All of the above
Solution : Answer = All of the above.
All the statements provided are correct in the context of adjusting capitals in a partnership. They outline the steps involved in determining the adjusted capital of remaining partners, calculating proportionate capital, and identifying surplus or deficit capital based on the comparison of present adjusted capital and proportionate capital. Hence, the correct option is 4.
Question : Arrange the following steps in proper sequence in the context of the retirement of a partner, when total capital of new firm = Aggregate of Adjusted Capital of remaining partners. I. Calculate New Capital of the remaining partners by dividing Total Capital of the new
Question : When the Retiring Partner is to be paid through amount brought by the remaining partners in a manner to make their capitals proportionate to their New Profit-sharing Ratio. Arrange the following steps in proper sequence I. Calculate Adjusted Capital of remaining partners
Question : Arrange the following steps in proper sequence When the Retiring Partner is to be paid through amount brought by the Remaining or Continuing partners in a manner to make their Capitals Proportionate to their New Profit-sharing Ratio and also leave a desired Cash
Question :
Accumulated losses on the retirement of a partner are
Question : Which of the following statements is incorrect?
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