In the absence of any provision in the partnership deed, at what rate is a working partner entitled for remuneration? Post category:Accountancy Reading time:1 mins read SOLUTION In the absence of any provision in the partnership deed, no partner is entitled for any remuneration. 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 share of profits would a ‘sleeping partner’ who has contributed 75% of the Total Capital get in the absence of a deed? Next PostList any two circumstances under which the fixed capital of partners may change. You Might Also Like X and Y are partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2019, they admit Z as a partner for 1/4th share in the profits. Z contributed following assets towards his capital and for his share of goodwill: Stock Rs. 60,000; Debtors Rs. 80,000; Land Rs. 1,00,000, Plant and Machinery Rs. 40,000. On the date of admission of Z, the goodwill of the firm was valued at Rs. 6,00,000. Pass necessary Journal entries in the books of the firm on Z’s admission. August 1, 2022 Balance Sheet of P, Q and R as at 31st March, 2019, who were sharing profits in the ratio of 5 : 3 : 1, was: July 26, 2022 A, B and C who are presently sharing profits and losses in the ratio of 5: 3: 2 decide to share future profits and losses in the ratio of 2: 3: 5. Give the Journal entry to distribute ‘Workmen Compensation Reserve’ of Rs. 1,20,000 at the time of change in profit-sharing ratio, when: (i) No information is given; (ii) there is no claim against it. October 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y are partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2019, they admit Z as a partner for 1/4th share in the profits. Z contributed following assets towards his capital and for his share of goodwill: Stock Rs. 60,000; Debtors Rs. 80,000; Land Rs. 1,00,000, Plant and Machinery Rs. 40,000. On the date of admission of Z, the goodwill of the firm was valued at Rs. 6,00,000. Pass necessary Journal entries in the books of the firm on Z’s admission. August 1, 2022
Balance Sheet of P, Q and R as at 31st March, 2019, who were sharing profits in the ratio of 5 : 3 : 1, was: July 26, 2022
A, B and C who are presently sharing profits and losses in the ratio of 5: 3: 2 decide to share future profits and losses in the ratio of 2: 3: 5. Give the Journal entry to distribute ‘Workmen Compensation Reserve’ of Rs. 1,20,000 at the time of change in profit-sharing ratio, when: (i) No information is given; (ii) there is no claim against it. October 28, 2022