Name the accounts which are maintained for the partners when capitals of the partners are fixed. (AI 2014 C) Post category:Accountancy Reading time:1 mins read SOLUTION (a) Partners’ Capital Accounts;(b) Partners’ Current 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 PostRitesh and Hitesh are childhood friends, Ritesh is a consultant whereas Hitesh is an architect. They contributed equal amounts and purchased a building for Rs. 2 crores. After a year, they sold it for Rs. 3 crores and shared the profits equally. Are they doing the business in partnership? Give reason in support of your answer. (Delhi and AI 2018) Next PostWhat is meant by ‘Fixed Capital’ of a partner? (Delhi 2016 C) You Might Also Like From the following information, calculation Cash Flow from Operating Activities and Investing Activities: August 18, 2022 Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3 : 2 : 1. Manisha retired and goodwill of the firm is valued at Rs. 1,80,000. Aparna and Sonia decided to share future profits in the ratio of 3 : 2. Pass necessary Journal entries. August 3, 2022 Calculate Trade Receivables Turnover Ratio in each of the following alternative cases: Case 1: Net Credit Sales Rs. 4,00,000; Average Trade Receivables Rs. 1,00,000. Case 2: Revenue from Operations (Net Sales) Rs. 30,00,000; Cash Revenue from Operations, i.e., Cash Sales Rs. 6,00,000; Opening Trade Receivables Rs. 2,00,000; Closing Trade Receivables Rs. 6,00,000. Case 3: Cost of Revenue from Operations or Cost of Goods Sold Rs. 3,00,000; Gross Profit on Cost 25%; Cash Sales 20% of Total Sales; Opening Trade Receivables Rs. 50,000; Closing Trade Receivables Rs. 1,00,000. Case 4: Cost of Revenue from Operations or Cost of Goods Sold Rs. 4,50,000; Gross Profit on Sales 20%; Cash Sales 25% of Net Credit Sales, Opening Trade Receivables Rs. 90,000; Closing Trade Receivables Rs. 60,000. August 16, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
From the following information, calculation Cash Flow from Operating Activities and Investing Activities: August 18, 2022
Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3 : 2 : 1. Manisha retired and goodwill of the firm is valued at Rs. 1,80,000. Aparna and Sonia decided to share future profits in the ratio of 3 : 2. Pass necessary Journal entries. August 3, 2022
Calculate Trade Receivables Turnover Ratio in each of the following alternative cases: Case 1: Net Credit Sales Rs. 4,00,000; Average Trade Receivables Rs. 1,00,000. Case 2: Revenue from Operations (Net Sales) Rs. 30,00,000; Cash Revenue from Operations, i.e., Cash Sales Rs. 6,00,000; Opening Trade Receivables Rs. 2,00,000; Closing Trade Receivables Rs. 6,00,000. Case 3: Cost of Revenue from Operations or Cost of Goods Sold Rs. 3,00,000; Gross Profit on Cost 25%; Cash Sales 20% of Total Sales; Opening Trade Receivables Rs. 50,000; Closing Trade Receivables Rs. 1,00,000. Case 4: Cost of Revenue from Operations or Cost of Goods Sold Rs. 4,50,000; Gross Profit on Sales 20%; Cash Sales 25% of Net Credit Sales, Opening Trade Receivables Rs. 90,000; Closing Trade Receivables Rs. 60,000. August 16, 2022