What is maximum amount of discount which may be allowed on reissue of forfeited shares? (C.B.S.E, 2014) Post category:Accountancy Reading time:1 mins read SOLUTION The amount credited to Forfeited Share Account. 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 PostWhat is meant by surrender of shares? Next PostWhere would you transfer the balance left in the share forfeited account after the reissue of such shares? You Might Also Like On the basis of following data, how much final payment to a partner on firm’s dissolution will be made? Debit balance of Capital Account Rs. 14,000; Share of his profit on realisation Rs. 43,000; Firm’s asset taken over by him for Rs. 17,000. September 27, 2022 X and Y were partners in a firm sharing profits and losses in the ratio of 2 : 1. Z was admitted for 1/3rd share in the profits. On the date of Z’s admission, the Balance Sheet of X and Y showed General Reserve of Rs. 2,50,000 and a credit balance of Rs. 50,000 in Profit and Loss Account. Pass necessary Journal entries on the treatment of these items on Z’s admission. August 1, 2022 X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership. X gives 1/3rd of his share while Y gives 1/10th from his share to Z. Calculate new profit-sharing ratio and sacrificing ratio. July 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
On the basis of following data, how much final payment to a partner on firm’s dissolution will be made? Debit balance of Capital Account Rs. 14,000; Share of his profit on realisation Rs. 43,000; Firm’s asset taken over by him for Rs. 17,000. September 27, 2022
X and Y were partners in a firm sharing profits and losses in the ratio of 2 : 1. Z was admitted for 1/3rd share in the profits. On the date of Z’s admission, the Balance Sheet of X and Y showed General Reserve of Rs. 2,50,000 and a credit balance of Rs. 50,000 in Profit and Loss Account. Pass necessary Journal entries on the treatment of these items on Z’s admission. August 1, 2022
X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership. X gives 1/3rd of his share while Y gives 1/10th from his share to Z. Calculate new profit-sharing ratio and sacrificing ratio. July 29, 2022