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 Varun and Arun are partners in a firm sharing profits and losses equally. On the date of dissolution of the partnership firm, Varun’s wife’s loan was Rs. 45,000, whereas Arun’s loan was Rs. 65,000. Which loan will be paid first and why? (CBSE 2019) October 8, 2022 A and B are partners sharing profits and losses in the ratio of 2 : 5. They admit C on the condition that he will bring Rs. 14,000 as his share of goodwill to be distributed between A and B. C’s share in the future profits or losses will be 1/4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by C will be received by A and B? August 1, 2022 Better Prospect Ltd. acquired land costing Rs. 1,00,000 and in payment allotted 1,000 Equity Shares of Rs. 100 each as fully paid. Further, the company issued 4,000 Equity Shares to public. The shares were payable as: Rs. 30 on application; Rs. 30 on allotment; Rs. 40 on first and final call. July 14, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Varun and Arun are partners in a firm sharing profits and losses equally. On the date of dissolution of the partnership firm, Varun’s wife’s loan was Rs. 45,000, whereas Arun’s loan was Rs. 65,000. Which loan will be paid first and why? (CBSE 2019) October 8, 2022
A and B are partners sharing profits and losses in the ratio of 2 : 5. They admit C on the condition that he will bring Rs. 14,000 as his share of goodwill to be distributed between A and B. C’s share in the future profits or losses will be 1/4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by C will be received by A and B? August 1, 2022
Better Prospect Ltd. acquired land costing Rs. 1,00,000 and in payment allotted 1,000 Equity Shares of Rs. 100 each as fully paid. Further, the company issued 4,000 Equity Shares to public. The shares were payable as: Rs. 30 on application; Rs. 30 on allotment; Rs. 40 on first and final call. July 14, 2022