State the ‘liability of a partner’ in a partnership firm.(C.B.S.E. 2019. Delhi) Post category:Accountancy Reading time:1 mins read SOLUTION Liability of partners is Unlimited and Several (i.e., personal assets can b utilized to pay off ‘the debts of the firm.) 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 PostAnkit, Bhanu and Charu are partners in a firm sharing profits and losses equally with capital of Rs. 2,50,000 each. On 1st October, 2021, Ankit and Bhanu gave loans of Rs. 2,50,000 each to the firm whereas Charu took a loan of Rs. 1,00,000 from the firm on the same date. It was agreed among the partners that Charu will be charged Interest @ 6% pa. Interest on loan from partners was paid on 10th April, 2022. The firm closes its books on 31st March each year. Pass the Journal entries in the books of the firm for the year ended 31st March, 2022. Next PostWhat is meant by ‘mutual agency’ in case of partnership? (C.B.S.E. 2019. Chennai) You Might Also Like A, B and C are partners sharing in the ratio of 3: 2: 1. They admit D for l / 4th share. It is agreed that B would retain his original share. New ratio will be………. (C.B.S.E. Comptt. 2019) September 27, 2022 How will you show the following items in the Balance Sheet of a Company; (i) Calls in Arrears; (ii) Calls in Advance. September 30, 2022 Name the account which is opened to credit the share of profit of the deceased partner, till the time of his death to his Capital Account. September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C are partners sharing in the ratio of 3: 2: 1. They admit D for l / 4th share. It is agreed that B would retain his original share. New ratio will be………. (C.B.S.E. Comptt. 2019) September 27, 2022
How will you show the following items in the Balance Sheet of a Company; (i) Calls in Arrears; (ii) Calls in Advance. September 30, 2022
Name the account which is opened to credit the share of profit of the deceased partner, till the time of his death to his Capital Account. September 27, 2022