Partnership Accounts IPCC

1.original capital

2.yes most probably

4.depends on daa situation

5.distributed

9.suggestion dat dont take tension be calm...such doubts come ...try to learn oveall concept of daa chapter...ITS CA dude here u cant learn everything...completely..

so b confident about how much u hv covered dnt owrry ur paper will b daa best

GOOD LUCK

1. take new patners captial and his profit sharing ratio as base. Suppose there are 2 patnres A & B, now if the new patner C brings 10,000 capital and his share is 1/3 then total capital of the firm will be 3 * 10,000= 30,000 (divide this amt in new profit shairng ratio as 'To bal c/d' among all the partners in patners cap acc). Then adjust the patners cap acc with excess or shortage of cash

2. yes

3. Show partners capital account and current account seperately and after adjustment transfer their respective balance in Balance sheet.

4. You can do directly , first divide goodwill in old profit sharing ratio among old partners (by goodwill a/c) and then write off in New profit sharing ratio among the new partners (To goodwill a/c) . This way the gaining and sacrificing ratio will be adjusted on its own.

5. If there is no goodwill in the books and the same is sold , then take that amount to realisation account i.e By bank (assets realised)

6. Capital account

7.while calculating assets taken over (in purchase cosideration) deduct the loss from the debtors balance.

8. Capital + current account + share of reserves

some penality was paid to ESI regarding belated return filing. that expnese we need to disallow. if it is disallow under which section. any one plz suggest me.