Give the journal entry to distribute General Reserve and Profit and Loss Account balance appearing on the liabilities side of Balance Sheet. Post category:Accountancy Reading time:1 mins read SOLUTION General Reserve A/c Dr.Profit and Loss A/c Dr. To Old Partner’s Capital A/cs(In old Ratio) 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 PostWhat are accumulated losses? Next PostState the need for treatment of Goodwill on admission of a partner. You Might Also Like From the following Balance Sheet of Samta Ltd., as at 31st March, 2019, prepare Cash Flow Statement: August 20, 2022 Current Assets of a company is are Rs. 5,00,000. Its Current Ratio is 2.5 : 1 and Quick Ratio is 1: 1. Calculate value of Current Liabilities, Liquid Assets and Inventory. August 12, 2022 Nusrat and Sonu were partners in a firm sharing profits in the ratio of 3: 2. During the year ended 31st March, 2015 Nusrat had withdrawn Rs. 15,000. Interest on her drawings amounted to Rs. 300. Pass necessary Journal entry for charging interest on drawings assuming that the capitals of the partners were fixed. (Delhi 2016) October 7, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
From the following Balance Sheet of Samta Ltd., as at 31st March, 2019, prepare Cash Flow Statement: August 20, 2022
Current Assets of a company is are Rs. 5,00,000. Its Current Ratio is 2.5 : 1 and Quick Ratio is 1: 1. Calculate value of Current Liabilities, Liquid Assets and Inventory. August 12, 2022
Nusrat and Sonu were partners in a firm sharing profits in the ratio of 3: 2. During the year ended 31st March, 2015 Nusrat had withdrawn Rs. 15,000. Interest on her drawings amounted to Rs. 300. Pass necessary Journal entry for charging interest on drawings assuming that the capitals of the partners were fixed. (Delhi 2016) October 7, 2022