In case the partner ‘s capital accounts are fixed; withdrawal of capital is recorded in which account?(C.B.S. E. 2020, Mumbai, Chennai) Post category:Accountancy Reading time:1 mins read SOLUTION Partner’s Capital Accounts. 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 PostWhen salary to partners, interest on capital, drawings, interest on drawings, Interest on Drawing etc. are recorded in capital accounts of partners, which method we are following to maintain the capital account? Next PostWhy does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (C.B.S.E. 2020, Mumbai, Chennai) You Might Also Like A and B are in partnership sharing profits and losses in the ratio of 5 : 3. C is admitted as a partner who pays Rs. 40,000 as capital and the necessary amount of goodwill which is valued at Rs. 60,000 for the firm. His share of profits will be 1/5th which he takes 1/10th from A and 1/10th from B. Give Journal entries and also calculate future profit-sharing ratio of the partners. August 1, 2022 A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C as partner in the firm for 1/4th share in profits which he takes 1/6th from A and 1/12th from B. C brings in only 60% of his share of firm’s goodwill. Goodwill of the firm has been valued at Rs. 1,00,000. Pass necessary journal entries to record this arrangement. August 1, 2022 Name any two Companies are exempted from creating Redemption Reserve’ by the SEBI. September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B are in partnership sharing profits and losses in the ratio of 5 : 3. C is admitted as a partner who pays Rs. 40,000 as capital and the necessary amount of goodwill which is valued at Rs. 60,000 for the firm. His share of profits will be 1/5th which he takes 1/10th from A and 1/10th from B. Give Journal entries and also calculate future profit-sharing ratio of the partners. August 1, 2022
A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C as partner in the firm for 1/4th share in profits which he takes 1/6th from A and 1/12th from B. C brings in only 60% of his share of firm’s goodwill. Goodwill of the firm has been valued at Rs. 1,00,000. Pass necessary journal entries to record this arrangement. August 1, 2022
Name any two Companies are exempted from creating Redemption Reserve’ by the SEBI. September 30, 2022