Partnership

X, Y & Z commence a business in partnership. X puts in Rs. $20,000$ for the whole year. Y introduced Rs. $30,000$ and increases it Rs. $40,000$ at the end of four months but withdraws Rs. $10,000$ at the end of eight month. Z brings Rs. $50,000$ at first, but withdraws Rs. $15,000$ at the end of six months. Calculate the profit sharing ratio based on effective capital.

X & Y were partners in the firm sharing profits and losses in the ratio of 4 : 3. Z is admitted for a 1/3rd share in the profits. On the date of Z's admission, the Balance Sheet of X and Y showed a Balance of Rs. 4,200 in Profit and Loss Account shown on the Assets side of Balance Sheet and a General Reserve of Rs. 42,000. The final effect on X's Capital A/c will be ________.

A, B and C are partners in the firm sharing profits and losses in the ratio of 3: 2: 1. D is admitted Into the firm with a 1/4th share in the profits which he gets as 1/8 from A and 1/8 from B. D is to bring in cash equivalent to 1/4 of the total capital of the new firm. The capitals of other partners are also to be adjusted In the ratio of their respective share in profit and loss. The respective capitals of A, B and C after all adjustments have been made, work out at Rs.20,000, Rs. 15,000 and Rs. 19,000 respectively. Calculate final capitals of A, B and C will be _________.

P and Q are partnership sharing Profit it in the ratio of 2: 1. R is admitted to the partnership with effect from 1st April on the term that he will bring Rs. 40,000 as his capital for 1/4th share and pays Rs. 18,000 for goodwill, half of which is to be withdrawn by P and Q. If profit on revaluation is Rs. 12,000 and the opening Capital of P are Rs. 80,000 and of Q is Rs. 60,000, the closing balances of capital accounts will be in the ratio of ________.

B,C & D are three partners in a firm. On 30th June C met an accident and died on the spot. on the date of C death the firm have following balance in its balance sheets. Workmen's compensation account Rs.30000,General Reserve a/c Rs. 30,000,Profit and loss a/c Rs 21,000 (Debit balance ), ESI a/c Rs.11,000. Find the amount to be credited to each partner capital account on death of C.

H & M are partners in a firm sharing profits and losses in the ratio of $3:2$. Their capitals are Rs.$60,000$ and Rs.$40,000$ respectively. They admit K as a new partner who will get $1/6$th share in the profits of the firm. K brings in Rs.$25,000$ as his adjusted through partner's capital account. Required journal entry- H Capital A/c Dr. M Capital A/c Dr. To K Capital A/c $10,000$ $15,000$ $25,000$ K Capital A/c Dr. To H Capital A/c To M Capital A/c $25,000$ $15,000$ $10,000$ K Capital A/c Dr. To H Capital A/c To M Capital A/c $25,000$ $10,000$ $15,000$ Premium for Goodwill A/c Dr. To H Capital A/c To M Capital A/c $25,000$ $10,000$ $15,000$

P & Q are partners sharing profits in the ratio of 2:1. R is admitted to the partnership with effect from 1st April on the term that he will bring Rs 20,000 as his capital for 1/4th share and pays Rs 9,000 for goodwill, half of which is to be withdrawn by P and Q. If profit on revaluation is Rs 6,000 and opening capital of P is Rs 40,000 and of Q is Rs 30,000, find the closing balance of each partners capital.

A & B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who is supposed to bring Rs 25,000 against capital and Rs 10,000 against goodwill. New profit sharing ratio is 1:1:1. C brought cash for his share of Capital and agreed to compensate to A and B outside the firm. How this will be treated in the books of the firm?

A and B start a business with investment of Rs. 5000 and Rs. 4500 respectively. After 4 months, A takes out half of his capital. After two more months, B takes out one-third of his capital while C joins them with a capital of Rs. 7000. At the end of year they earn a profit of Rs. 5080. Find the share of each member in the profit.

$P$ and $Q$ enter into a partnership. $P$ puts in $Rs.\ 50$ and $Q$ puts $Rs.\ 45$. At the end of the $4$ months $P$ withdraws half his capital and at the end of $5th$ month $Q$ withdraws half of his capital. $S$ then enter into with the capital of $Rs.\ 70$. At the end of $12$ months they got profit of $Rs.\ 1272.5$. What was $S$ share in the profit.