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 Twitter Opens in a new window Facebook Opens in a new window Google+ 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 On firm’s dissolution, which account should he prepared at the last? September 27, 2022 X and Y are partners sharing profits in the ratio of 3: 1. Z is admitted as a partner for which he pays Rs. 30,000 for goodwill in cash. X, Y and Z decide to share the future profits in equal proportion. You are required to pass a single Journal entry to give effect to the above arrangement August 1, 2022 State the basis of calculating the amount of profit payable to the legal representative of a deceased partner in the year of death. (C.B.S.E. 2019) October 8, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y are partners sharing profits in the ratio of 3: 1. Z is admitted as a partner for which he pays Rs. 30,000 for goodwill in cash. X, Y and Z decide to share the future profits in equal proportion. You are required to pass a single Journal entry to give effect to the above arrangement August 1, 2022
State the basis of calculating the amount of profit payable to the legal representative of a deceased partner in the year of death. (C.B.S.E. 2019) October 8, 2022