Give the accounting entry for unrecorded assets in case of reconstitution of a partnership firm. Post category:Accountancy Reading time:1 mins read SOLUTION Sundry Assets A/c Dr. To Revaluation A/c(Unrecorded assets 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 any two circumstances in which sacrificing ratio may be applied. (C.B.S.E. 2019) Next PostWhat is the effect of admission of a new partner on Partnership? You Might Also Like A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. On 31st March, 2019, their Balance Sheet was: July 26, 2022 Classify debentures from the point of view of redemption. September 29, 2022 X, Y and Z were partners sharing profits and losses in the ratio of 3: 2: 1. Y died on 30th June, 2021. Profit from 1st April, 2021 to 30th June, 2021 was Rs. 3,60,000. X and Z decided to share the future profits in the ratio of 3: 2 respectively with effect from 1st July, 2021. Pass the necessary Journal entries to record Y’s share of profit up to the date of death. August 5, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. On 31st March, 2019, their Balance Sheet was: July 26, 2022
X, Y and Z were partners sharing profits and losses in the ratio of 3: 2: 1. Y died on 30th June, 2021. Profit from 1st April, 2021 to 30th June, 2021 was Rs. 3,60,000. X and Z decided to share the future profits in the ratio of 3: 2 respectively with effect from 1st July, 2021. Pass the necessary Journal entries to record Y’s share of profit up to the date of death. August 5, 2022