Give the accounting entry for unrecorded assets in case of reconstitution of a partnership firm. (C.B.S.E. 2019, Delhi) Post category:Accountancy Reading time:1 mins read SOLUTION Sundry Assets 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 PostWhy are “Reserves & Surplus” distributed at the time of reconstitution of the firm? Next PostGive the accounting entry for an unrecorded liability in case of reconstitution of partnership firm. You Might Also Like Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Ghosh as a new partner for 1/5th share of profits. Ghosh is to bring in Rs. 20,000 as capital and Rs. 4,000 as his share of goodwill premium. Give the necessary Journal entries: (a) When the amount of goodwill is retained in the business. (b) When the amount of goodwill is fully withdrawn. (c) When 50% of the amount of goodwill is withdrawn. (d) When goodwill is paid privately August 1, 2022 What is meant by Reserve Capital? (C.B.S.E. 2019) September 28, 2022 P, Q and R were partners in a firm. On 31st March, 2018 R retired. The amount payable to R Rs. 2,17,000 was transferred to his loan account. R agreed to receive interest on this amount as per the provisions of Partnership Act, 1932. State the rate at which interest will be paid to R. (CBSE 2019) October 8, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Ghosh as a new partner for 1/5th share of profits. Ghosh is to bring in Rs. 20,000 as capital and Rs. 4,000 as his share of goodwill premium. Give the necessary Journal entries: (a) When the amount of goodwill is retained in the business. (b) When the amount of goodwill is fully withdrawn. (c) When 50% of the amount of goodwill is withdrawn. (d) When goodwill is paid privately August 1, 2022
P, Q and R were partners in a firm. On 31st March, 2018 R retired. The amount payable to R Rs. 2,17,000 was transferred to his loan account. R agreed to receive interest on this amount as per the provisions of Partnership Act, 1932. State the rate at which interest will be paid to R. (CBSE 2019) October 8, 2022