What will be the effect of purchase of goods for cash Rs. 3,000 on Gross Profit Ratio? (C.B.S.E. 2020; Kolkata. Lucknow) Post category:Accountancy Reading time:1 mins read SOLUTION No Effect. 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 the difference between ‘Operating Profit’ and ‘Net Profit’? Next Post‘Purchase of goods Rs. 35,000 for cash will increase the operating ratio.’ Is the statement correct? Give reasons. You Might Also Like What is a Revaluation Account? September 26, 2022 A and B were partners sharing profits and losses as to 7/11th to A and 4/11th to B. They dissolved the partnership on 30th May, 2018. As on that date their capitals were: A Rs. 7,000 and B Rs. 4,000. There were also due on Loan A/c to A Rs. 4,500 and to B Rs. 750. The other liabilities amounted to Rs. 5,000. The assets proved to have been undervalued in the last Balance Sheet and actually realised Rs. 24,000. Prepare necessary accounts showing the final settlement between partners. July 26, 2022 A, B and C were partners sharing profits in the ratio of 5 : 3 : 2. On 31st March, 2019, A’s Capital and B’s Capital were Rs. 30,000 and Rs. 20,000 respectively but C owed Rs. 5,000 to the firm. The liabilities were Rs. 20,000. The assets of the firm realised Rs. 50,000. Prepare Realisation Account, Partner’s Capital Accounts and Bank Account. July 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B were partners sharing profits and losses as to 7/11th to A and 4/11th to B. They dissolved the partnership on 30th May, 2018. As on that date their capitals were: A Rs. 7,000 and B Rs. 4,000. There were also due on Loan A/c to A Rs. 4,500 and to B Rs. 750. The other liabilities amounted to Rs. 5,000. The assets proved to have been undervalued in the last Balance Sheet and actually realised Rs. 24,000. Prepare necessary accounts showing the final settlement between partners. July 26, 2022
A, B and C were partners sharing profits in the ratio of 5 : 3 : 2. On 31st March, 2019, A’s Capital and B’s Capital were Rs. 30,000 and Rs. 20,000 respectively but C owed Rs. 5,000 to the firm. The liabilities were Rs. 20,000. The assets of the firm realised Rs. 50,000. Prepare Realisation Account, Partner’s Capital Accounts and Bank Account. July 26, 2022
