Reconstitution of Partnership – Admission of a Partner — Class 12 Accountancy PYQs

Arun, Bashir and Joseph were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted Daksh as a new partner who acquired his share entirely from Arun. If Arun sacrificed 1/5th from his share to Daksh, Daksh's share in the profits of the firm will be :
(A) 1/10
(B) 1/5
(C) 3/10
(D) 2/5

Akhil, Bajrang and Chinmay were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. Dilawar was admitted as a new partner in the firm. Dilawar acquired his 1/10th share from Akhil and 2/10th from Bajrang. Dilwar was admitted for which of the following share in the profits of the firm ?
(A) 1/10
(B) 2/10
(C) 3/10
(D) 4/10

Aman, Boman and Chetan were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. Dinesh was admitted as a new partner who acquired his share entirely from Aman. Aman surrendered 1/5th of his share in the profits to Dinesh. Dinesh was admitted for which of the following share in the profits of the firm ?
(A) 1/10
(B) 2/10
(C) 3/10
(D) 4/10

Pulkit and Ravinder were partners in a firm sharing profits and losses in the ratio of 3 : 2. Sikander was admitted as a new partner for 1/5th share in the profits of the firm. Pulkit, Ravinder and Sikander decided to share future profits in the ratio of 2 : 2 : 1. Sikander brought ₹ 5,00,000 as his capital and ₹ 10,00,000 as his share of premium for goodwill. The amount of premium for goodwill that will be credited to the old partners' capital accounts will be :
(A) Pulkit's Capital Account ₹ 10,00,000
(B) Pulkit's Capital Account ₹ 6,00,000 and Ravinder's Capital Account ₹ 4,00,000
(C) Pulkit's Capital Account ₹ 5,00,000 and Ravinder's Capital Account ₹ 5,00,000
(D) Pulkit's Capital Account ₹ 2,00,000

Moksh and Pran were partners in a firm sharing profits and losses in the ratio of 1 : 2. Their capitals were ₹ 5,00,000 and ₹ 3,00,000 respectively. They admitted Tushar as a new partner on 1st April, 2024 for 1/4th share in future profits. Tushar brought ₹ 4,00,000 as his share of capital. The goodwill of the firm on Tushar's admission will be :
(A) ₹ 16,00,000
(B) ₹ 4,00,000
(C) ₹ 8,00,000
(D) ₹ 12,00,000

Kajal and Laura were partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Maddy for 1/4th share in future profits. Maddy brought ₹ 8,00,000 as his capital and ₹ 4,00,000 as his share of premium for goodwill. Kajal, Laura and Maddy decided to share profits in future in the ratio of 2 : 1 : 1. After all adjustments in respect of goodwill, revaluation of assets and liabilities etc. Kajal's capital was ₹ 15,00,000 and Laura's capital was ₹ 8,00,000. It was agreed that partners' capitals should be in proportion to their new profit sharing ratio taking Maddy's capital as base. The adjustment was made by bringing in or withdrawing the necessary cash as the case may be. The cash brought in by Kajal was :
(A) ₹ 1,00,000
(B) ₹ 8,00,000
(C) ₹ 16,00,000
(D) ₹ 12,00,000

Nita, Vidur and Mita were partners in a firm sharing profits and losses in the ratio of 3 : 4 : 1. On 1st April 2024, they decided to admit Samir as a new partner. The new profit sharing ratio between Nita, Vidur, Mita and Samir will now be 1 : 1 : 1 : 1. The balance sheet of Nita, Vidur and Mita before Samir's admission showed machinery at ₹ 6,00,000. On the date of admission, it was found that the machinery is overvalued by 20%.
The value of machinery shown in the new Balance Sheet after Samir's admission will be :
(A) ₹ 7,50,000
(B) ₹ 4,80,000
(C) ₹ 7,20,000
(D) ₹ 5,00,000

Luv and Kush were partners in a firm sharing profits and losses in the ratio of 5 : 4. On 1st April, 2024, Rishi was admitted as a new partner for 2/9th share in profits which he acquired equally from Luv and Kush. On the date of Rishi's admission, the Balance Sheet of Luv and Kush showed debtors of ₹ 9,00,000 and provision for bad and doubtful debts of ₹ 90,000.
Pass necessary journal entries for treatment of provision for bad and doubtful debts on the date of Rishi's admission in each of the following cases :
(i) Bad debts amounted to ₹ 60,000.
(ii) Bad debts amounted to ₹ 90,000.
(iii) Bad debts amounted to ₹ 1,00,000.

Sunny and Ujjwal were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April, 2024 Timmy was admitted as a new partner for 1/5th share in profits which he acquired equally from Sunny and Ujjwal. On the date of Timmy's admission the Balance Sheet of Sunny and Ujjwal showed investments at ₹ 5,00,000 and a balance of ₹ 2,00,000 in Investment Fluctuation Reserve.
Pass necessary journal entries for treatment of Investment fluctuation reserve on the date of Timmy's admission in each of the following cases :
(i) Market value of Investments was ₹ 5,00,000.
(ii) Market value of Investments was ₹ 3,00,000.
(iii) Market value of Investments was ₹ 2,00,000.

Rocky and Vicky were partners in a firm sharing profits and losses in the ratio of 4 : 3. On 1st April, 2024 Shivay was admitted as a new partner for 2/7th share in profits which he acquired equally from Rocky and Vicky. On the date of Shivay's admission, the Balance Sheet of Rocky and Vicky showed Workmen Compensation Reserve of ₹ 7,00,000.
Pass necessary journal entries for treatment of workmen compensation reserve on the date of Shivay's admission in each of the following cases :
(i) Claim on account of workmen compensation amounted to ₹ 5,60,000.
(ii) Claim on account of workmen compensation amounted to ₹ 7,00,000.
(iii) Claim on account of workmen compensation amounted to ₹ 7,20,000.