Give two circumstances in which gaining ratio may be applied. Post category:Accountancy Reading time:1 mins read SOLUTION (i) At the time of retirement of a partner. (ii) At the time of change in profit sharing ratio of existing partners. 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 is meant by Gaining Partners? Next PostDefine Goodwill. You Might Also Like Name any two sub-line items (sub-headings) under which “Current Assets’’ shall be classified in the Balance Sheet of a Company. September 30, 2022 S. Singh Limited obtained a loan of Rs. 5,00,000 from State Bank of India @ 10% p.a. interest. The company issued Rs. 7,50,000, 10% Debentures of Rs. 100 each in favour of State Bank of India as Collateral Security. Pass necessary Journal entries for the above transactions: (i) When company decided not to record the issue of 10% Debentures as Collateral Security. (ii) When company decided to record the issue of 10% Debentures as Collateral Security. July 18, 2022 Mohit Ltd. issued 2,000; 9% Debentures of Rs. 100 each on the following terms: Rs.20 on applications; Rs. 20 on allotment; Rs. 30 on first call; Rs. 30 on final call. The public applied for 2,400 debentures. Applications for 1,800 debentures were accepted in full. Applications for 400 debentures were allotted 200 debentures and applications for 200 debentures were rejected. Pass necessary Journal entries. July 16, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Name any two sub-line items (sub-headings) under which “Current Assets’’ shall be classified in the Balance Sheet of a Company. September 30, 2022
S. Singh Limited obtained a loan of Rs. 5,00,000 from State Bank of India @ 10% p.a. interest. The company issued Rs. 7,50,000, 10% Debentures of Rs. 100 each in favour of State Bank of India as Collateral Security. Pass necessary Journal entries for the above transactions: (i) When company decided not to record the issue of 10% Debentures as Collateral Security. (ii) When company decided to record the issue of 10% Debentures as Collateral Security. July 18, 2022
Mohit Ltd. issued 2,000; 9% Debentures of Rs. 100 each on the following terms: Rs.20 on applications; Rs. 20 on allotment; Rs. 30 on first call; Rs. 30 on final call. The public applied for 2,400 debentures. Applications for 1,800 debentures were accepted in full. Applications for 400 debentures were allotted 200 debentures and applications for 200 debentures were rejected. Pass necessary Journal entries. July 16, 2022