Give the accounting entry for an unrecorded liability in case of reconstitution of partnership firm. Post category:Accountancy Reading time:1 mins read SOLUTION Revaluation A/c Dr. To Sundry Liabilities(Unrecorded liability now recorded) 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 PostGive the accounting entry for unrecorded assets in case of reconstitution of a partnership firm. (C.B.S.E. 2019, Delhi) Next PostHow can a new partner be admitted? You Might Also Like M and J are partners in a firm sharing profits in the ratio of 3 : 2. They admit R as a new partner. The new profit-sharing ratio between M, J and R will be 5 : 3 : 2. R brought in Rs. 25,000 for his share of premium for goodwill. Pass necessary Journal entries for the treatment of goodwill. August 1, 2022 Om and Shiv are partners in a firm sharing profits in the ratio of 4: 1. They decided to share future profits in the ratio of 3: 2 w.e.f. 1st April, 2022. On that day, Profit and Loss Account showed a debit balance of Rs. 1,00,000. Pass Journal entry to give effect to the above. October 28, 2022 What is ‘Operating Cycle’? September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
M and J are partners in a firm sharing profits in the ratio of 3 : 2. They admit R as a new partner. The new profit-sharing ratio between M, J and R will be 5 : 3 : 2. R brought in Rs. 25,000 for his share of premium for goodwill. Pass necessary Journal entries for the treatment of goodwill. August 1, 2022
Om and Shiv are partners in a firm sharing profits in the ratio of 4: 1. They decided to share future profits in the ratio of 3: 2 w.e.f. 1st April, 2022. On that day, Profit and Loss Account showed a debit balance of Rs. 1,00,000. Pass Journal entry to give effect to the above. October 28, 2022