7,8,9,10 pls help
7,8,9,10 pls help SARALA BIRLA PUBLIC SCHOOL Ranchi This question paper contains two and B, part A of marks and part B consists of 20 marks. All or a question should be attempted at one place. What 's meantby Reconstitution of partnership Firm? _mv Time 2. Vinod. Karan and Sampurna are partners. Vinod wants to admit his son Yuvrai into business as anew partner. but Karan and Sampnrna do not agree. Yuvraj become a partner of the firm? Give reason. Explain the provisions of section 31 Of the Indian Partnership Act, 1932 with respect to the admission of a partner, 3. What Steps can a company take Other than rejecting applicationsin case Of oversubscription? OR Explain what is collateral security? X, Y andZare partners sharing profits in the ratio Of 1/2, 2/5 and Find ratio of the remaining partners if Z retires. 51 Name theliability which is notshown in the Balance Sheethut paid at the time ofdissolution ofa nor outstanding prepaid e*penses or depreciation are receipts and payments accounts. Why? OR Explain the following terms: i. Endowment Fund. ii. Annuity Fund. In the year ended 31st March, 2018, subscriptions received were These subscriptions include Rs.3,OOOfor the year ended 31st March, 2017 and Rs.4,OOO for theyear ending 31st March, 2019. On 31st March, 2018, subscriptions due but not received were Rs.5,000. The corresponding amount on 1st April, 2017 was Rs.6,000. Determine the amount thatshould becredited to Income and Expenditure Account as subscriptions for the year ended 31st March, 2018. (3) 8. Vinod and Dhruvwere equal partners. They decided to admitanew partnerMr. Gaurav into firm aGd forthis purpose goodwill Of the firm is to be valued at two years purchase of super profits Onthe admissiön Of Mr. Gaurav Average Profits of the firm were calculated at Rs.21.500 and Capital Employed at Rs.2,OO.OOO. The normal rate of return in similar business is 10%. Find out the value of goodwill (3) 9. Vinod, Deepak and Mukesh were partners in a firm sharing profits in the ratio of The firm closes its books on 31st March every year. Deepak died on 24 August 2009. On Deepak's Death the goodwill of the firm was valued at Rs.1.S0,000.'The partnership deed provided that on the death or a partner his share in the profits ofthe firm in the year of his death will be calculated on the basis of last years profit. The profit of the firm for the year ended 31 st March 2009 was Give necessary journal entries and calculation of Deepak's Share of profit. OR •What are the adjustments required on the admission ofa partner? ,'IO.Vinod arid Mridul are partners sharing profits in the ratio 6.•4, with capitals of R.S.I.OO,OOO and ks.00,000 respectively. Interest on capital is agreed to be paid @ p.a. M. dul is allowed a salary of Rs.5,000 p.a.