{"id":43357,"date":"2024-04-15T21:28:17","date_gmt":"2024-04-15T21:28:17","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=43357"},"modified":"2024-04-15T21:28:17","modified_gmt":"2024-04-15T21:28:17","slug":"arrange-the-steps-of-adjustment-of-partners-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","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/arrange-the-steps-of-adjustment-of-partners-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\/","title":{"rendered":"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:"},"content":{"rendered":"

[amp_mcq option1=”3, 1, 4, 2″ option2=”3, 4, 1, 2″ option3=”4, 3, 2, 1″ option4=”3, 4, 2, 1″ correct=”option4″]<\/p>\n

The correct answer is: D. 3, 4, 2, 1<\/strong><\/p>\n

Here is a brief explanation of each step:<\/p>\n

    \n
  1. Calculate the adjusted capital of old partners.<\/strong> This is done by taking the old partners’ capital balances and adjusting them for any changes that have occurred since the last partnership agreement was signed. For example, if a partner has made a capital contribution since the last agreement was signed, their capital balance would be increased.<\/li>\n
  2. Calculate the proportionate capital of a new partner.<\/strong> This is done by dividing the total capital of the new firm by the number of partners. For example, if the new firm has a total capital of $100,000 and there are three partners, each partner’s proportionate capital would be $33,333.<\/li>\n
  3. All adjustments should be made.<\/strong> This includes any adjustments to the old partners’ capital balances, as well as any adjustments to the new partner’s capital balance. For example, if the new partner is bringing in a new asset to the partnership, the old partners’ capital balances may need to be adjusted to reflect the new asset’s value.<\/li>\n
  4. Calculate the total capital of new firm.<\/strong> This is done by adding up the adjusted capital balances of all the partners. For example, if the old partners’ capital balances are $100,000, $200,000, and $300,000, and the new partner’s capital balance is $400,000, the total capital of the new firm would be $800,000.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    [amp_mcq option1=”3, 1, 4, 2″ option2=”3, 4, 1, 2″ option3=”4, 3, 2, 1″ option4=”3, 4, 2, 1″ correct=”option4″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-43357","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\nArrange 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. 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