Define Trade Payables. Post category:Accountancy Reading time:1 mins read SOLUTION Trade Payables refers to the amount payable against goods purchased or services received in the normal course of business. 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 PostDefine Trade Receivables. Next PostWhat do you understand by the term deferred tax? You Might Also Like Bhavya and Sakshi are partners in a firm, sharing profits and losses in the ratio of 3: 2. On 31st March, 2018 their Balance Sheet was as under: July 27, 2022 Pass Journal entries for the following: (a) Realisation expenses amounted to Rs. 10,000 were paid by the firm on behalf of Alok, a partner, with whom it was agreed at Rs. 7,500. (b) Realisation expenses amounted to Rs. 5,000. It was agreed that the firm will pay Rs. 2,000 and balance by Ravinder, a partner. (c) Dissolution expenses amounted to Rs. 10,000 were paid by Amit, a partner, on behalf of the firm. July 25, 2022 (a) W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y died and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio. (b) A, B and C are partners sharing profits and losses in the ratio of 4: 3: 2. C died. A is acquiring 4/9 of C’s share and balance is acquired by B. Calculate the new profit-sharing ratio and gaining ratio. August 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Bhavya and Sakshi are partners in a firm, sharing profits and losses in the ratio of 3: 2. On 31st March, 2018 their Balance Sheet was as under: July 27, 2022
Pass Journal entries for the following: (a) Realisation expenses amounted to Rs. 10,000 were paid by the firm on behalf of Alok, a partner, with whom it was agreed at Rs. 7,500. (b) Realisation expenses amounted to Rs. 5,000. It was agreed that the firm will pay Rs. 2,000 and balance by Ravinder, a partner. (c) Dissolution expenses amounted to Rs. 10,000 were paid by Amit, a partner, on behalf of the firm. July 25, 2022
(a) W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y died and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio. (b) A, B and C are partners sharing profits and losses in the ratio of 4: 3: 2. C died. A is acquiring 4/9 of C’s share and balance is acquired by B. Calculate the new profit-sharing ratio and gaining ratio. August 4, 2022