On dissolution of a firm, what entry is passed on making payment of realization expenses by a partner? Post category:Accountancy Reading time:1 mins read SOLUTION Realisation A/c Dr. To Partner’s Capital A/c 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 PostOn dissolution of firm, what payment Is made first from the personal assets of a partner? Next PostHow will the Realisation Account closed, if it discloses a loss? You Might Also Like Geeta and Sunita are partners in a firm sharing profits in the ratio of 3: 2. They admit Anita as a new partner. The new profit-sharing ratio between Geeta, Sunita and Anita will be 5: 3: 2. Anita brought in Rs. 25,000 for his share of premium for goodwill. Pass necessary Journal entries for the treatment of goodwill. November 3, 2022 Telecom Ltd.’ issued 20,000 Equity Shares of Rs. 10 each at a premium of Rs. 5 per share, payable as: Rs. 7 (including premium) on application, Rs. 5 on allotment and the balance after three months of allotment. A shareholder to whom 200 shares were allotted failed to pay the allotment and call money and his shares were forfeited. 160 of the forfeited shares were reissued for Rs. 1,600. Give necessary entries in company’s Journal and the Balance Sheet. July 15, 2022 X, Y and Z who are sharing profits in the ratio of 5 : 3 : 2, decide to share profits in the ratio of 2 : 3 : 5 with effect from 1st April, 2019. Workmen Compensation Reserve appears at Rs. 1,20,000 in the Balance Sheet as at 31st March, 2019 and Workmen Compensation Claim is estimated at Rs. 1,50,000. Pass Journal entries for the accounting treatment of Workmen Compensation Reserve. July 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Geeta and Sunita are partners in a firm sharing profits in the ratio of 3: 2. They admit Anita as a new partner. The new profit-sharing ratio between Geeta, Sunita and Anita will be 5: 3: 2. Anita brought in Rs. 25,000 for his share of premium for goodwill. Pass necessary Journal entries for the treatment of goodwill. November 3, 2022
Telecom Ltd.’ issued 20,000 Equity Shares of Rs. 10 each at a premium of Rs. 5 per share, payable as: Rs. 7 (including premium) on application, Rs. 5 on allotment and the balance after three months of allotment. A shareholder to whom 200 shares were allotted failed to pay the allotment and call money and his shares were forfeited. 160 of the forfeited shares were reissued for Rs. 1,600. Give necessary entries in company’s Journal and the Balance Sheet. July 15, 2022
X, Y and Z who are sharing profits in the ratio of 5 : 3 : 2, decide to share profits in the ratio of 2 : 3 : 5 with effect from 1st April, 2019. Workmen Compensation Reserve appears at Rs. 1,20,000 in the Balance Sheet as at 31st March, 2019 and Workmen Compensation Claim is estimated at Rs. 1,50,000. Pass Journal entries for the accounting treatment of Workmen Compensation Reserve. July 27, 2022