State any one occasion for the dissolution of the firm on Court’s orders. (Delhi 2017 C) Post category:Accountancy Reading time:1 mins read SOLUTION (i) Persistent breach of agreement by a partner.(ii) Insanity of a partner.(iii) Permanent incapacity of a partner. 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 PostState any two grounds on the basis of which the Court may order for dissolution of a partnership firm. (CBSE 2019) Next Post‘Complete the following Statement’: When a liability is discharged by a partner, at the time of dissolution, Capital Account is credited because__. (C.B.S.E. Sample Paper 2019) You Might Also Like P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are Rs. 80,000 and Rs. 20,000 respectively. During the year 2018-19, the firm made a profit of Rs. 28,000 before charging interest on capital @ 5%. The drawings of the partners are P — Rs. 8,000; Q — Rs. 7,000; and R — Rs. 5,000. On 31st March, 2019, their liabilities were Rs. 18,000. On this date, they decided to dissolve the firm. The assets realised Rs. 1,08,600 and realisation expenses amounted to Rs. 1,800. Prepare necessary Ledger Accounts to close the books of the firm. July 26, 2022 Calculate interest on drawings of Ashok @ 10% p.a. for the year ended 31st March, 2022, in each of the following alternative cases: Case 1. If he withdrew Rs. 7,500 in the beginning of each quarter. Case 2. If he withdrew Rs. 7,500 at the end of each quarter. Case 3. If he withdrew Rs. 7,500 during the middle of each quarter. October 11, 2022 Following is the Balance Sheet of Kusum, Sneh and Usha as on 31st March, 2019, who have agreed to share profits and losses in proportion of their capitals: August 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are Rs. 80,000 and Rs. 20,000 respectively. During the year 2018-19, the firm made a profit of Rs. 28,000 before charging interest on capital @ 5%. The drawings of the partners are P — Rs. 8,000; Q — Rs. 7,000; and R — Rs. 5,000. On 31st March, 2019, their liabilities were Rs. 18,000. On this date, they decided to dissolve the firm. The assets realised Rs. 1,08,600 and realisation expenses amounted to Rs. 1,800. Prepare necessary Ledger Accounts to close the books of the firm. July 26, 2022
Calculate interest on drawings of Ashok @ 10% p.a. for the year ended 31st March, 2022, in each of the following alternative cases: Case 1. If he withdrew Rs. 7,500 in the beginning of each quarter. Case 2. If he withdrew Rs. 7,500 at the end of each quarter. Case 3. If he withdrew Rs. 7,500 during the middle of each quarter. October 11, 2022
Following is the Balance Sheet of Kusum, Sneh and Usha as on 31st March, 2019, who have agreed to share profits and losses in proportion of their capitals: August 4, 2022