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Arrange the steps of adjustment of partner's capital on the admission of a new partner in sequence.
1. Calculate the adjusted capital of old partners.
2. Calculate the proportionate capital of a new partner.
3. All adjustments should be made.
4. Calculate the total capital of new firm.
Select the correct answer:

Arrange the steps of adjustment of partner's capital on the admission of a new partner in sequence.
1. Calculate the adjusted capital of old partners.
2. Calculate the proportionate capital of a new partner.
3. All adjustments should be made.
4. Calculate the total capital of new firm.
Select the correct answer: Correct Answer 3, 1, 4, 2

Related Questions

Arrange the following steps of 'adjustment of old partners' capital on the basis of incoming partner's capital in a correct order.
1. Ascertain the present capital of the old partners.
2. Calculation of total capital of firm on the basis of new partner's capital.
3. Finding the surplus/deficit capital.
4. Determining the new capital of each partner.
Select the correct answer:
Which of the following are correct regarding rights of partners?
1. A partner has the right to allow the admission of a new partner.
2. Every partner has a right to take part in the management of business.
3. Every partner has a joint ownership of partnership property.
4. Every partner has a right to share the profit not the losses with other partners.
5. Every partner has a right to inspect the books of account and have a copy of the same.
6. In case of emergency, a partner has a right to act as a man of prudence.
Select the correct answer:
Arrange the following steps of adjustment of capital (reconstitution of firm) incorrect order.
1. Calculation of total capital of new firm.
2. Finding out the surplus/deficiency in each of partner's capital account.
3. Calculation of adjusted old capitals of partners.
4. Finding out the new capitals of partners.
Select the correct answer:
Which of the following sets of statements most appropriately conveys the process of adjustment? Choose from the code for your answer : (a) Adjustment is a two-dimensional process. (b) Mental health of a person is indicative of his/her adjustment. (c) Adjustment implies satisfying one’s needs in a given environment. (d) Conflicts and tensions are a part of the adjustment process. (e) Adjustment is the goal of life. (f) Adjustment and mental health are one and the same thing. Code :
Directions : In each of the following questions a statement is given, followed by three conclusions. Give answer :

Statement : "We must introduce objective type tests to improve our examinations for admission to MBA." - The Chairman of the Admission Committee tells the Committee.

Assumptions :
I. The admission at present is directly through the interview.
II. The Admission Committee is desirous of improving the admission examinations.
III. The Chairman himself is an MBA.
In the company, there are two types of partner i.e working and sleeping partners. The commission paid by the company to their each working partner is 10 % of the total profit. There are two working partners who are paid Rs. 20000 each. The remaining profit is shared equally among the four partners. Find the amount paid to each sleeping partner in the business.
The assets of the Partnership firm, including any sums contributed by the partners to makeup deficiencies of capital at the time of dissolution, shall be applied in the following manner and order: (A) In paying each partner rateably what is due to him for advances as distinguished from capital. (B) In paying to each partner rateably what is due to him on account of capital. (C) In paying the debts of the firm to third parties (D) Dividing among the partners in the proportion in which they were entitled to share profits. Choose the correct answer from the options given below:
Which of the following are the consequences in case of insolvency of partner?
1. The partner adjudicated as insolvent ceases to be a partner.
2. He ceases on the date on which the order of adjudication is made.
3. The firm is dissolved on the date of the order.
4. The estate of the insolvent partner is liable for any act of the firm after the date of the order of adjudication.
5. The firm can be held liable for any acts of the insolvent partners after the date of the order of adjudication.
Select the correct answer:
A, B and C participated in a race. A covers the same distance in 49 steps as B covers in 50 steps and C covers in 51 steps. A takes 10 steps in same time as B takes 9 steps and C takes 8 steps. Who is the winner of the race?
A man walks 60 steps in a minute when he has energy. He walks 30 steps per minute when he is tired. He has to go to a place 300 steps away. If he can walk 120 steps without getting tired, what is his average walking speed (steps per minute) for his back and forth journey if he takes rest after reaching the place and again walks 120 steps with energy.