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 Do you think that the loan by a partner’s relative is transferred to Realisation Account at the time of dissolution of a firm? Why? September 27, 2022 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 Shikhar and Rohit were partners in a firm sharing profits in the ratio of 7 : 3. On 1st April, 2013, they admitted Kavi as a new partner for 1/4th share in profits of the firm. Kavi brought Rs. 4,30,000 as his capital and Rs. 25,000 for his share of goodwill premium. The Balance Sheet of Shikhar and Rohit as on 1st April, 2013 was as follows: August 2, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Do you think that the loan by a partner’s relative is transferred to Realisation Account at the time of dissolution of a firm? Why? September 27, 2022
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
Shikhar and Rohit were partners in a firm sharing profits in the ratio of 7 : 3. On 1st April, 2013, they admitted Kavi as a new partner for 1/4th share in profits of the firm. Kavi brought Rs. 4,30,000 as his capital and Rs. 25,000 for his share of goodwill premium. The Balance Sheet of Shikhar and Rohit as on 1st April, 2013 was as follows: August 2, 2022