Stale any two situations when a firm is compulsorily dissolved. (C.B.S.E 2019, M. P.) Post category:Accountancy Reading time:1 mins read SOLUTION A firm is compulsorily dissolved in the following cases. (i) When all the partners or all but one partner become insolvent. (ii) When the business of the firm becomes illegal. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ 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 PostState any two contingencies that may result into dissolution of a partnership firm.(C.B.S.E. M. P.) Next PostState the order of payment of the following, in case of dissolution of partnership firm: (i) to each partner proportionately what is due to him / her from the firm for advances as distinguished from capital (i.e., partners’ loan); (ii) to each partner proportionately what is due to him on account of capital; and (iii) for the debts of the firm to the third parties. (C.B.S.E. Sample Paper, 2019) You Might Also Like Kumar, Verma and Naresh were partners in a firm sharing Profits and Losses in the ratio of 3: 2: 2. On 23rd January, 2015 Verma died. Verma’s share of profit till the date of his death was calculated at Rs. 2350. Pass necessary Journal entry for the same in the books of the firm. August 4, 2022 Under which type of activity will you classify ‘Rent Received’ while preparing cash flow statement? (C.B.S.E. Sample Paper, 2019) October 6, 2022 From the following information, calculate Cash Flow from Investing Activities: August 18, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Kumar, Verma and Naresh were partners in a firm sharing Profits and Losses in the ratio of 3: 2: 2. On 23rd January, 2015 Verma died. Verma’s share of profit till the date of his death was calculated at Rs. 2350. Pass necessary Journal entry for the same in the books of the firm. August 4, 2022
Under which type of activity will you classify ‘Rent Received’ while preparing cash flow statement? (C.B.S.E. Sample Paper, 2019) October 6, 2022