Give one distinction between reconstitution of a firm and dissolution of a firm. Post category:Accountancy Reading time:1 mins read SOLUTION In case of dissolution of a partnership (i.e., reconstitution of a firm) the firm continues, while in case of dissolution of a firm, its business is discontinued. 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 PostChange in Profit Sharing-Ratio amount to dissolution of partnership or partnership firm? Give reason in support of your answer. (C.B.S. E. 2017, Comptt) Next PostOn dissolution, what entry is passed if a partner takes over an asset of the firm Valued Rs. 10,000 at Rs. 6,000? You Might Also Like Find New Profit-sharing Ratio: (i) R and T are partners in a firm sharing profits in the ratio of 3 : 2. S joins the firm. R surrenders 1/4th of his share and T 1/5th of his share in favour of S. (ii) A and B are partners. They admit C for 1/4th share. In future, the ratio between A and B would be 2 : 1. (iii) A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C for 1/5th share in the profit. C acquires 1/5th of his share from A and 4/5th share from B. (iv) X, Y and Z are partners in the ratio of 3 : 2 : 1. W joins the firm as a new partner for 1/6th share in profits. Z would retain his original share. (v) A and B are equal partners. They admit C and D as partners with 1/5th and 1/6th share respectively. (vi) A and B are partners sharing profits/losses in the ratio of 3 : 2 . C is admitted for 1/4th share. A and B decide to share equally in future. July 29, 2022 Name the method of calculating interest on Drawings of the Partners if the different amounts are withdrawn on different dates. September 26, 2022 Nitro Paints Ltd. invited applications for issuing 1,60,000 equity shares of Rs. 10 each at a premium of Rs. 3 per share. The amount was payable as follows: July 15, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Find New Profit-sharing Ratio: (i) R and T are partners in a firm sharing profits in the ratio of 3 : 2. S joins the firm. R surrenders 1/4th of his share and T 1/5th of his share in favour of S. (ii) A and B are partners. They admit C for 1/4th share. In future, the ratio between A and B would be 2 : 1. (iii) A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C for 1/5th share in the profit. C acquires 1/5th of his share from A and 4/5th share from B. (iv) X, Y and Z are partners in the ratio of 3 : 2 : 1. W joins the firm as a new partner for 1/6th share in profits. Z would retain his original share. (v) A and B are equal partners. They admit C and D as partners with 1/5th and 1/6th share respectively. (vi) A and B are partners sharing profits/losses in the ratio of 3 : 2 . C is admitted for 1/4th share. A and B decide to share equally in future. July 29, 2022
Name the method of calculating interest on Drawings of the Partners if the different amounts are withdrawn on different dates. September 26, 2022
Nitro Paints Ltd. invited applications for issuing 1,60,000 equity shares of Rs. 10 each at a premium of Rs. 3 per share. The amount was payable as follows: July 15, 2022