Class 12th Accountancy 2017 Set1 Delhi Board Paper Solution

What is Capital Fund? How is it calculated?

What is sacrificing ratio? Why is it calculated?

List the items which may be debited or credited in capital accounts of the partners when:

(i) Capitals are fixed.

(ii) Capital are fluctuating. 

What is subscription? How is it calculated?

Why is Profit and Loss Adjustment Account prepared? Explain.

If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?

 Why there is need for the revaluation of assets and liabilities on the admission of a partner? 

 Why it is considered desirable to make the  partnership agreement in writing.

Identify various matters that need adjustments at the time of admission of a new partner.

State the meaning of Income and Expenditure Account.

What steps are taken to prepare Income and Expenditure Account from a Receipt and Payment Account?

What is sacrificing ratio? Why is it calculated?

What is Capital Fund? How is it calculated?

What is subscription? How is it calculated?

List the items which may be debited or credited in capital accounts of the partners when:

(i) Capitals are fixed.

(ii) Capital are fluctuating. 

 Why there is need for the revaluation of assets and liabilities on the admission of a partner? 

What are the different ways in which a partner can retire from the firm?

State the meaning of Income and Expenditure Account.

Write the various matters that need adjustments at the time of retirement of partner/partners.

Identify various matters that need adjustments at the time of admission of a new partner.