Admission of a Partner Questions

On the date of admission of a partner, there was a balance of $\text{₹ }45,000$ in the account of machinery. It was found undervalued by $10\%$. The value of machinery will appear in the new Balance Sheet at:

If there is no claim against Workmen Compensation Reserve, it is _______________ at the time of admission of a partner.Fill in the blank with the correct answer from the options given below.

Kavita and Lalita are partners, sharing profits in the ratio of $2:1$. They decide to admit Mohan for $1/4\text{th}$ share in future profits with a guaranteed amount of $\text{₹ }25,000$. Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their respective profit-sharing ratio. The firm earned profits of $\text{₹ }76,000$ for the year 2022–23. The deficiency borne by Kavita is:

Anshu and Nitu are partners, sharing profits in the ratio of $3:2$. They admitted Jyoti as a new partner for $3/10\text{th}$ share which she acquired $2/10\text{th}$ from Anshu and $1/10\text{th}$ from Nitu. Calculate the new profit-sharing ratio of Anshu, Nitu, and Jyoti:

Which of the following would affect the Revaluation Account at the time of admission of a partner?(A) Increase in assets(B) Drawings against capital(C) Recording of unrecorded assets(D) Decrease in liabilities Choose the correct answer from the options given below: