On dissolution, what entry is passed if a partner under takes to make payment of a liability of the firm? Post category:Accountancy Reading time:1 mins read SOLUTION Realisation A/c Dr. To Partner’s Capital A/c 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 PostOn dissolution of a partnership firm, where is profit or loss on realization transferred? Next PostOn dissolution of firm, what entry is passed for payment of an unrecorded liability? You Might Also Like Calculate Cash Flow from Operating Activities from the following information: INCOME STATEMENT (STATEMENT OF PROFIT AND LOSS) for the year ended 31st March, 2019. August 18, 2022 Calculate Inventory Turnover Ratio in each of the following alternative cases: Case 1: Cash Sales 25% of Credit Sales; Credit Sales Rs. 3,00,000; Gross Profit 20% on Revenue from Operations, i.e., Net Sales; Closing Inventory Rs. 1,60,000; Opening Inventory Rs. 40,000. Case 2: Cash Sales 20% of Total Sales; Credit Sales Rs. 4,50,000; Gross Profit 25% on Cost; Opening Inventory Rs. 37,500; Closing Inventory Rs. 1,12,500. August 16, 2022 Mita, Gopal l and Farhan were partners sharing profits and losses in the ratio 3:2:1. On 31st March, 2018 they decided to change the profit-sharing ratio to 5:3:2. On this date, the Balance Sheet showed deferred advertisement expenditure Rs. 30,00 and contingency reserve Rs. 9,000. July 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Calculate Cash Flow from Operating Activities from the following information: INCOME STATEMENT (STATEMENT OF PROFIT AND LOSS) for the year ended 31st March, 2019. August 18, 2022
Calculate Inventory Turnover Ratio in each of the following alternative cases: Case 1: Cash Sales 25% of Credit Sales; Credit Sales Rs. 3,00,000; Gross Profit 20% on Revenue from Operations, i.e., Net Sales; Closing Inventory Rs. 1,60,000; Opening Inventory Rs. 40,000. Case 2: Cash Sales 20% of Total Sales; Credit Sales Rs. 4,50,000; Gross Profit 25% on Cost; Opening Inventory Rs. 37,500; Closing Inventory Rs. 1,12,500. August 16, 2022
Mita, Gopal l and Farhan were partners sharing profits and losses in the ratio 3:2:1. On 31st March, 2018 they decided to change the profit-sharing ratio to 5:3:2. On this date, the Balance Sheet showed deferred advertisement expenditure Rs. 30,00 and contingency reserve Rs. 9,000. July 27, 2022