Mention two ratios in which both the figures are from Profit and Loss Account. Post category:Accountancy Reading time:1 mins read SOLUTION (i) G.P. Ratio and (ii) Operating Ratio. 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 Return on Investment Ratio? Next PostMention two ratios in which both the figures are from Balance Sheet. You Might Also Like Karan and Varun were partners in a firm sharing profits and losses in the ratio of 1: 2. Their fixed capitals were Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st April, 2016 Kishore was admitted as a new partner for 1/4th share in the profits. Kishore brought Rs. 2,00,000 for his capital which was to be kept fixed like the capitals of Karan and Varun. Kishore acquired his share of profit from Varun only. Calculate goodwill of the firm on Kishore’s admission and the new profit-sharing ratio of Karan, Varun and Kishore. Also, pass necessary Journal Entry for the treatment of Goodwill on Kishore’s admission considering that Kishore did not bring his share of goodwill premium in Cash. October 21, 2022 Jamuna, Ganga and Krishna are partners in a firm. Krishna retired from the firm. After making adjustments for Reserves and Revaluation of Assets and Liabilities, the balance in Krishna’s capital account was Rs. 1,20,000. Jamuna and Ganga paid Rs. 1,80,000 in full settlement to Krishna. Identify the item for which Jamuna and Ganga paid Rs. 60.000 more to Krishna. September 27, 2022 Interest received and paid by a finance company is classified under which Kind of activity while preparing a Cash flow statement? (C.B.S. E. 2018) October 6, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Karan and Varun were partners in a firm sharing profits and losses in the ratio of 1: 2. Their fixed capitals were Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st April, 2016 Kishore was admitted as a new partner for 1/4th share in the profits. Kishore brought Rs. 2,00,000 for his capital which was to be kept fixed like the capitals of Karan and Varun. Kishore acquired his share of profit from Varun only. Calculate goodwill of the firm on Kishore’s admission and the new profit-sharing ratio of Karan, Varun and Kishore. Also, pass necessary Journal Entry for the treatment of Goodwill on Kishore’s admission considering that Kishore did not bring his share of goodwill premium in Cash. October 21, 2022
Jamuna, Ganga and Krishna are partners in a firm. Krishna retired from the firm. After making adjustments for Reserves and Revaluation of Assets and Liabilities, the balance in Krishna’s capital account was Rs. 1,20,000. Jamuna and Ganga paid Rs. 1,80,000 in full settlement to Krishna. Identify the item for which Jamuna and Ganga paid Rs. 60.000 more to Krishna. September 27, 2022
Interest received and paid by a finance company is classified under which Kind of activity while preparing a Cash flow statement? (C.B.S. E. 2018) October 6, 2022
