Do you think that the loan by a partner is transferred to Realisation Account at the lime of dissolution of a firm? Why? Post category:Accountancy Reading time:1 mins read SOLUTION No, it is not transferred to Realisation Account because its payment is made after the payment of all outside liabilities. 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 PostWhen a liability is to be discharged by a partner, why is his Capital Account credited? Next PostDo you think that the loan by a partner’s relative is transferred to Realisation Account at the time of dissolution of a firm? Why? You Might Also Like From the following information, calculate Inventory Turnover Ratio; Operating Ratio and Working Capital Turnover Ratio: Opening Inventory Rs. 28,000; Closing Inventory Rs. 22,000; Purchases Rs. 46,000; Revenue from Operations, i.e., Net Sales Rs. 80,000; Return Rs. 10,000; Carriage Inwards Rs. 4,000; Office Expenses Rs. 4,000; Selling and Distribution Expenses Rs. 2,000; Working Capital Rs. 40,000. August 17, 2022 Revenue from Operations: Cash Sales Rs. 5,00,000; Credit Sales Rs. 6,00,000; Sales Return Rs. 1,00,000. Current Assets Rs. 3,00,000; Current Liabilities Rs. 1,00,000. Calculate Working Capital Turnover Ratio. August 16, 2022 A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1 respectively. Their Balance Sheet as at 31st March, 2019 is as follows: August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
From the following information, calculate Inventory Turnover Ratio; Operating Ratio and Working Capital Turnover Ratio: Opening Inventory Rs. 28,000; Closing Inventory Rs. 22,000; Purchases Rs. 46,000; Revenue from Operations, i.e., Net Sales Rs. 80,000; Return Rs. 10,000; Carriage Inwards Rs. 4,000; Office Expenses Rs. 4,000; Selling and Distribution Expenses Rs. 2,000; Working Capital Rs. 40,000. August 17, 2022
Revenue from Operations: Cash Sales Rs. 5,00,000; Credit Sales Rs. 6,00,000; Sales Return Rs. 1,00,000. Current Assets Rs. 3,00,000; Current Liabilities Rs. 1,00,000. Calculate Working Capital Turnover Ratio. August 16, 2022
A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1 respectively. Their Balance Sheet as at 31st March, 2019 is as follows: August 1, 2022