Write two items of debit side of Current Accounts. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Drawings, (ii) Interest on Drawings. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWrite two items of credit side of Current Accounts. Next PostIf the partner’s capitals are fixed, where will you record interest on drawings and share of profit of a partner? You Might Also Like State with reason whether at the time of Admission of a Partner, partnership is dissolved or partnership firm is dissolved. (A1 2013) October 7, 2022 Give Journal entries to record the following arrangements in the books of the firm: (a) B and C are partners sharing profits in the ratio of 3 : 2. D is admitted paying a premium (goodwill) of Rs. 2,000 for 1/4th share of the profits, shares shares of B and C remain as before. (b) B and C are partners sharing profits in the ratio of 3 : 2. D is admitted paying a premium of Rs. 2,100 for 1/4th share of profits which he acquires 1/6th from B and 1/12th from C. August 1, 2022 Under what circumstances premium for goodwill paid by the incoming partner would never be recorded in the books of account? September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
State with reason whether at the time of Admission of a Partner, partnership is dissolved or partnership firm is dissolved. (A1 2013) October 7, 2022
Give Journal entries to record the following arrangements in the books of the firm: (a) B and C are partners sharing profits in the ratio of 3 : 2. D is admitted paying a premium (goodwill) of Rs. 2,000 for 1/4th share of the profits, shares shares of B and C remain as before. (b) B and C are partners sharing profits in the ratio of 3 : 2. D is admitted paying a premium of Rs. 2,100 for 1/4th share of profits which he acquires 1/6th from B and 1/12th from C. August 1, 2022
Under what circumstances premium for goodwill paid by the incoming partner would never be recorded in the books of account? September 26, 2022
