On firm’s dissolution, which account should he prepared at the last? Post category:Accountancy Reading time:1 mins read SOLUTION Cash / Bank Account. 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 PostHow will the Realisation Account closed, if it discloses a loss? Next PostOn firm’s dissolution, what entry will be made on realisation of goodwill which was shown in Balance Sheet? You Might Also Like (a) W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y retires and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio. (b) A, B and C are partners sharing profits and losses in the ratio of 4: 3: 2. C retires from the business. A is acquiring 4/9 of C’s share and balance is acquired by B. Calculate the new profit-sharing ratio and gaining ratio. August 3, 2022 What is meant by Super Profits? September 26, 2022 Kanha, Neeraj and Asha were partners in a firm. They admitted Raghav their landlord as a partner in the firm. Raghav brings sufficient amount of capital and goodwill premium for his share in the profits. Raghav had given a loan of Rs. 1,00.000 @ 10% p.a. interest in the partnership firm before he came the partner. Now the accountant of the firm is emphasising that the interest on loan should he paid @6% p.n. Is he right in doing so? Give reason in support of your answer. (C.B.S.E. 2015 Comptt.) September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
(a) W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y retires and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio. (b) A, B and C are partners sharing profits and losses in the ratio of 4: 3: 2. C retires from the business. A is acquiring 4/9 of C’s share and balance is acquired by B. Calculate the new profit-sharing ratio and gaining ratio. August 3, 2022
Kanha, Neeraj and Asha were partners in a firm. They admitted Raghav their landlord as a partner in the firm. Raghav brings sufficient amount of capital and goodwill premium for his share in the profits. Raghav had given a loan of Rs. 1,00.000 @ 10% p.a. interest in the partnership firm before he came the partner. Now the accountant of the firm is emphasising that the interest on loan should he paid @6% p.n. Is he right in doing so? Give reason in support of your answer. (C.B.S.E. 2015 Comptt.) September 26, 2022
