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 A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is Rs. 2,50,000. The total interest on partner’s drawings is Rs. 4,000. A’s salary is Rs. 4,000 per quarter and B’ s salary is Rs. 40,000 per annum. Calculate the net profit / loss earned during the year. (C.B.S.E. Sample Paper, 2017) September 26, 2022 What is meant by ‘Gaining Ratio’ on retirement of a partner? September 27, 2022 What is meant by called up Capital? September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is Rs. 2,50,000. The total interest on partner’s drawings is Rs. 4,000. A’s salary is Rs. 4,000 per quarter and B’ s salary is Rs. 40,000 per annum. Calculate the net profit / loss earned during the year. (C.B.S.E. Sample Paper, 2017) September 26, 2022