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Read the following passage and answer the questions given belowRahul, Ravi, and Raju are the  parteners of a business. They started a partnership business in the textiles. Their capital were Rs 4,00,000  Rs 3,00,000 And Rs 1, 00,000 respectively. They decided to share the profit and losses in the ratio of 4:3:1.They decided to expand their business, The new partner was admitted Ramesh in the firm for 1/5th of share in the profit. On Ramesh admission the goodwill of the firm was valued at 3 years. Purchase of last 5 years average profit.        The profit during last 5 year were Rs 5,00,000 , 4,00,000  and 2,00,000 , 1,00,000 . Ramesh brought Rs 2,00,000 his capital and Also his share of goodwill 1) What amount of capital will be brought by Ramesh1 point1,00,0002,00,00050,0003,00,0002) What is the total capital of the firm at the time of started the business1 point2,00,0001,00,0008,00,0005,00,0003) Who is the new partner of the firm1 pointKavinRameshRaniKeshavOther:4) On the Ramesh admission the goodwill of the firm is valued at ______ year*1 point5327Other:BackNextClear form

Question

Read the following passage and answer the questions given belowRahul, Ravi, and Raju are the  parteners of a business. They started a partnership business in the textiles. Their capital were Rs 4,00,000  Rs 3,00,000 And Rs 1, 00,000 respectively. They decided to share the profit and losses in the ratio of 4:3:1.They decided to expand their business, The new partner was admitted Ramesh in the firm for 1/5th of share in the profit. On Ramesh admission the goodwill of the firm was valued at 3 years. Purchase of last 5 years average profit.        The profit during last 5 year were Rs 5,00,000 , 4,00,000  and 2,00,000 , 1,00,000 . Ramesh brought Rs 2,00,000 his capital and Also his share of goodwill 1) What amount of capital will be brought by Ramesh1 point1,00,0002,00,00050,0003,00,0002) What is the total capital of the firm at the time of started the business1 point2,00,0001,00,0008,00,0005,00,0003) Who is the new partner of the firm1 pointKavinRameshRaniKeshavOther:4) On the Ramesh admission the goodwill of the firm is valued at ______ year*1 point5327Other:BackNextClear form

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Solution

  1. Ramesh will bring Rs 2,00,000 as his capital.
  2. The total capital of the firm at the time of starting the business is Rs 8,00,000.
  3. The new partner of the firm is Ramesh.
  4. On Ramesh's admission, the goodwill of the firm is valued at 3 years.

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Read the following case study and answerquestions:FORTUNELtd. is a company engaged in textile business having a share capital of Rs.2,00,000. Rema, the accountant of the firm is analysing its financial figuresand intends to prepare its statement of profit and loss for 2021. The sales ofthe company during this period were 7,00,000 and sales return were 40,000. Itspurchases were 4,95,000, wages amounted to 1,00,000, salaries amounted to15,000, rent amounted to 9,900, sundry expenses were worth 14,100 and alsothere was a discount (Cr.) worth 10,000. 5. What is the amount that will be shown in revenue from operations in the statement of profit and loss?1 point7,00,0007,40,0006,60,00028,10,0006. What is the amount that will be shown in other income in the statement of profit and loss?1 point5,00010,00020,000None of these7. What is the amount that will be shown in employee benefit expenses in the statement of profit and loss? 1 point71,00,00015.0001,07,5001,15,0008.What is the amount that will be shown in other expenses in the statement of profit and loss?1 point24,00014,1009,900None of these

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