When a Creditor takes over an asset whose value is less than the amount due to him in full settlement of his claim, what entry shall be passed? Post category:Accountancy Reading time:1 mins read SOLUTION No entry. 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 PostWhy partner’s loan is not transferred to Realisation A/c? Next PostHow is Workmen Compensation Reserve shown in the Balance Sheet of a partnership firm, treated at the time of its dissolution? You Might Also Like On dissolution of a firm, a partner’s capital account has a credit balance of Rs. 42,000. His share of profit in realisation account is Rs. 9,000. He has paid firm’s realisation expenses Rs. 3,000. How much amount he will finally get? September 27, 2022 A, B and C are partners sharing profits and losses in the ratio of 5 : 4 : 1. Calculate new profit-sharing ratio, sacrificing ratio and gaining ratio in each of the following cases: Case 1. C acquires 1/5th share from A. Case 2. C acquires 1/5th share equally form A and B. Case 3. A, B and C will share future profits and losses equally. Case 4. C acquires 1/10th share of A and 1/2 share of B. July 27, 2022 State one transaction which results in an increase in ‘Liquid Ratio’ and no change in ‘Current Ratio’. October 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
On dissolution of a firm, a partner’s capital account has a credit balance of Rs. 42,000. His share of profit in realisation account is Rs. 9,000. He has paid firm’s realisation expenses Rs. 3,000. How much amount he will finally get? September 27, 2022
A, B and C are partners sharing profits and losses in the ratio of 5 : 4 : 1. Calculate new profit-sharing ratio, sacrificing ratio and gaining ratio in each of the following cases: Case 1. C acquires 1/5th share from A. Case 2. C acquires 1/5th share equally form A and B. Case 3. A, B and C will share future profits and losses equally. Case 4. C acquires 1/10th share of A and 1/2 share of B. July 27, 2022
State one transaction which results in an increase in ‘Liquid Ratio’ and no change in ‘Current Ratio’. October 3, 2022
