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?

If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?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

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 is Profit and Loss Adjustment Account prepared? Explain.

If some goodwill already exists in the books and the new partner brings in his share of goodwill in cash, how will you deal with existing amount of goodwill?

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

On what occasions sacrificing ratio is used?

Give two circumstances under which the fixed capitals of partners may change.

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

(i) Capitals are fixed.
(ii) Capital are fluctuating.

Reproduce the format of Realisation Account.

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

Why it is necessary to ascertain new profit sharing ratio even for old partners when a new partner is admitted?

What is sacrificing ratio? Why is it calculated?

Define Partnership Deed.

What is Capital Fund? How is it calculated?

State the meaning of Income and Expenditure Account.

How deficiency of crditors is paid off at the time of dissolution of firm.