State any one occasion for the dissolution of the firm on Court’s orders. (Delhi 2017 C) Post category:Accountancy Reading time:1 mins read SOLUTION (i) Persistent breach of agreement by a partner.(ii) Insanity of a partner.(iii) Permanent incapacity of a partner. 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 PostState any two grounds on the basis of which the Court may order for dissolution of a partnership firm. (CBSE 2019) Next Post‘Complete the following Statement’: When a liability is discharged by a partner, at the time of dissolution, Capital Account is credited because__. (C.B.S.E. Sample Paper 2019) You Might Also Like Distinguish between ‘Fixed Capital Account’ and fluctuating Capital Account’ on the basis of credit balance. September 26, 2022 X and Y are partners sharing profits and losses in the ratio of 2: 3 with capitals Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st October, 2018, X and Y gave loans of Rs. 80,000 and Rs. 40,000 respectively to the firm. Show distribution of profits/losses for the year ended 31st March, 2019 in each of the following alternative cases: Case 1: If the profits before interest for the year amounted to Rs. 21,000. Case 2: If the profits before interest for the year amounted to Rs. 3,000. Case 3: If the profits before interest for the year amounted to Rs. 5,000. Case 4: If the loss before interest for the year amounted to Rs. 1,400. July 20, 2022 Why does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (C.B.S.E. 2020, Mumbai, Chennai) September 23, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Distinguish between ‘Fixed Capital Account’ and fluctuating Capital Account’ on the basis of credit balance. September 26, 2022
X and Y are partners sharing profits and losses in the ratio of 2: 3 with capitals Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st October, 2018, X and Y gave loans of Rs. 80,000 and Rs. 40,000 respectively to the firm. Show distribution of profits/losses for the year ended 31st March, 2019 in each of the following alternative cases: Case 1: If the profits before interest for the year amounted to Rs. 21,000. Case 2: If the profits before interest for the year amounted to Rs. 3,000. Case 3: If the profits before interest for the year amounted to Rs. 5,000. Case 4: If the loss before interest for the year amounted to Rs. 1,400. July 20, 2022
Why does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (C.B.S.E. 2020, Mumbai, Chennai) September 23, 2022