Reconstitution of Partnership (Admission of Partner) — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

An account was opened for the Revaluation of Assets and Liabilities.

The part of subscribed capital is not called up by the company.

The account where the deceased partner’s share in the accrued profit from the date of the last Balance Sheet to the date of his death is adjusted.

The account to which excess amount on Share Forfeited A/c is transferred.

The form of business organisation where a huge amount of capital can be raised.

Fees charged by Notary Public for getting the fact of dishonour noted.

The expenditure which is non-recurring in nature.

Details of bank transactions are maintained in this book.

Part of the authorised capital is offered by the company to the public to subscribe for.

The credit balance of Income and Expenditure Account.