Give two items which may appear on the debit side of Partner’s Current Account. (Delhi and AI 2018 C) Post category:Accountancy Reading time:1 mins read SOLUTION (i) Drawings, (ii) Interest on Drawings. 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 does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (CBSE 2020) Next PostIn case the partners’ capitals are fixed, in which account withdrawal of capital is recorded? (C.B.S.E. 2020) You Might Also Like P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2019, S retired from the firm. On S’s retirement, goodwill of the firm was valued at Rs. 4,20,000. New profit-sharing ratio among P, Q and R will be 4 : 3 : 3. Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement. August 3, 2022 XYZ Ltd. invited applications for issuing 50,000 Equity Shares of Rs. 10 each. The amount was payable as: July 15, 2022 What is deferred tax asset? September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2019, S retired from the firm. On S’s retirement, goodwill of the firm was valued at Rs. 4,20,000. New profit-sharing ratio among P, Q and R will be 4 : 3 : 3. Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement. August 3, 2022
XYZ Ltd. invited applications for issuing 50,000 Equity Shares of Rs. 10 each. The amount was payable as: July 15, 2022