Category 2025- Class 12 Accountancy VOL 1
6. Death of a Partner
5. Retirement of a Partner
4. Admission of a Partner
3. Change in Profit-Sharing Ratio
Sacrificing and Gaining Share:- Q1. Om and Shyam are sharing profits and losses equally. With effect from 1st April, 2025, they agree to share profits in the ratio of 4:3. Calculate individual partners gain or sacrifice due to the change…
2. Goodwill
Average Profit Method:- Q1. Goodwill is to be valued at three year purchase of four year average profit. Profit of the firm for last four years ending 31st March, were: 2022 – 12,000; 2023 – 18,000; 2024 – 16,000; 2025…
1. Accounting of Partnership Firms Fundamentals
Solution – 2. Mahesh, Ramesh and Suresh are partners in a firm. They do not have a Partnership Deed. At the end of the first year of the business, they faced the following problems: State how you will settle these…