How goodwill is recorded on the retirement or death of a partner? Post category:Accountancy Reading time:1 mins read SOLUTION Remaining Partner s Capital A/cs Dr. (In Gaining Ratio) To Retiring or Deceased Partner’s Capital A/cs(With his share of goodwill) 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 PostFor which share of goodwill a partner is entitled at the time of his retirement? Next PostName the account which is opened to credit the share of profit of the deceased partner, till the time of his death to his Capital Account. You Might Also Like Ashish and Aakash are partners sharing profit in the ratio of 3: 2. Their Capital Accounts showed a credit balance of Rs. 5,00,000 and Rs. 6,00,000 respectively as on 31st March, 2019 after debit of drawings during the year of Rs. 1,50,000 and Rs. 1,00,000 respectively. Net profit for the year ended 31st March, 2019 was Rs. 5,00,000. Interest on capital is to be allowed @ 10% p.a. Pass the Journal entry for interest on capital and prepare Profit and Loss Appropriation Account. July 21, 2022 A company issued 10,000 shares of the value of Rs. 10 each, payable Rs. 3 on application, Rs. 3 on allotment and Rs. 4 on the first and final call. All amounts are duly received except the call money on 100 shares. These shares are subsequently forfeited by Directors and are resold as fully paid-up for Rs. 500. Give necessary journal entries for the transactions. July 14, 2022 What is meant by Issue of Debentures as Collateral Security? (C.B.S.E. 2018, 2020). September 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Ashish and Aakash are partners sharing profit in the ratio of 3: 2. Their Capital Accounts showed a credit balance of Rs. 5,00,000 and Rs. 6,00,000 respectively as on 31st March, 2019 after debit of drawings during the year of Rs. 1,50,000 and Rs. 1,00,000 respectively. Net profit for the year ended 31st March, 2019 was Rs. 5,00,000. Interest on capital is to be allowed @ 10% p.a. Pass the Journal entry for interest on capital and prepare Profit and Loss Appropriation Account. July 21, 2022
A company issued 10,000 shares of the value of Rs. 10 each, payable Rs. 3 on application, Rs. 3 on allotment and Rs. 4 on the first and final call. All amounts are duly received except the call money on 100 shares. These shares are subsequently forfeited by Directors and are resold as fully paid-up for Rs. 500. Give necessary journal entries for the transactions. July 14, 2022
What is meant by Issue of Debentures as Collateral Security? (C.B.S.E. 2018, 2020). September 29, 2022