On dissolution of a partnership firm, where is profit or loss on realization transferred? Post category:Accountancy Reading time:1 mins read SOLUTION In the Partner’s Capital Accounts in their profit-sharing ratio. 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 PostIn the event of dissolution of a partnership firm, where is the provision for doubtful debts transferred? Next PostOn dissolution, what entry is passed if a partner under takes to make payment of a liability of the firm? You Might Also Like What is meant by Reserve Capital? (C.B.S.E. 2019) September 28, 2022 Ram, Mohan and Sohan sharing profits and losses equally have capitals of Rs. 1,20,000, Rs. 90,000 and Rs. 60,000 respectively. For the year ended 31st March, 2019, interest was credited to them @ 6% instead of 5%. Give adjustment Journal entry. July 21, 2022 ‘An enterprise may hold securities and loans for dealing or trading purposes in which case they are similar to inventory acquired specifically for resale’. Is the statement correct? Cash flows from such activities will be classified under which type of activity while preparing Cash Flow Statement? (C.B.S.E. 2016) October 6, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Ram, Mohan and Sohan sharing profits and losses equally have capitals of Rs. 1,20,000, Rs. 90,000 and Rs. 60,000 respectively. For the year ended 31st March, 2019, interest was credited to them @ 6% instead of 5%. Give adjustment Journal entry. July 21, 2022
‘An enterprise may hold securities and loans for dealing or trading purposes in which case they are similar to inventory acquired specifically for resale’. Is the statement correct? Cash flows from such activities will be classified under which type of activity while preparing Cash Flow Statement? (C.B.S.E. 2016) October 6, 2022