Give two circumstances under which a partnership is dissolved. Post category:Accountancy Reading time:1 mins read SOLUTION (i) When there is a change in profit-sharing ratio of an existing partner. (ii) On admission / retirement or death of a partner 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 dissolution of partnership? Next PostOn dissolution of a firm, out of the proceeds received from the sale of assets Who will be paid first of all. You Might Also Like Kartik Mutuals, a mutual fund company, provides you the following information: October 6, 2022 How much amount will be paid to Creditors for Rs. 25,000 if Rs. 5,000 of the creditors are not to be paid and the remaining creditors agreed to accept 5% less amount? September 27, 2022 A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit C into partnership for 1/5th share. C brings Rs. 30,000 as capital and Rs. 10,000 as goodwill. At the time of admission of C, goodwill appeared in the Balance Sheet of A and B at Rs. 3,000. New profit-sharing ratio of the partners will be 5 : 3 : 2. Pass necessary Journal entries. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
How much amount will be paid to Creditors for Rs. 25,000 if Rs. 5,000 of the creditors are not to be paid and the remaining creditors agreed to accept 5% less amount? September 27, 2022
A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit C into partnership for 1/5th share. C brings Rs. 30,000 as capital and Rs. 10,000 as goodwill. At the time of admission of C, goodwill appeared in the Balance Sheet of A and B at Rs. 3,000. New profit-sharing ratio of the partners will be 5 : 3 : 2. Pass necessary Journal entries. August 1, 2022