State two basis lor determination of Profits from the date oflast Balance Sheet to the date of death/retirement. Post category:Accountancy Reading time:1 mins read SOLUTION (i) On Time Basis (ii) On Sales Basis. 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 PostWhat journal entry will be recorded for writing off the goodwill already existing in Balance Sheet at the time of retirement of a partner? Next PostWhy is Gaining Ratio calculated? You Might Also Like When salary to partners, interest on capital, drawings, interest on drawings, Interest on Drawing etc. are recorded in capital accounts of partners, which method we are following to maintain the capital account? September 23, 2022 Ashish Ltd. invited applications for 10,000 shares of Rs. 100 each payable as follows: Rs. 20 on application, Rs. 30 on allotment, Rs. 20 on first call and the balance on final call. All the shares were applied and allotted. All the money was duly received. You are required to Journalise these transactions July 13, 2022 On 1st June, 2017, R Energy Ltd. issued 10,000, 7% Debentures of Rs. 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made. Prepare the Balance Sheet (extract) as at 31st March, 2018. July 18, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
When salary to partners, interest on capital, drawings, interest on drawings, Interest on Drawing etc. are recorded in capital accounts of partners, which method we are following to maintain the capital account? September 23, 2022
Ashish Ltd. invited applications for 10,000 shares of Rs. 100 each payable as follows: Rs. 20 on application, Rs. 30 on allotment, Rs. 20 on first call and the balance on final call. All the shares were applied and allotted. All the money was duly received. You are required to Journalise these transactions July 13, 2022
On 1st June, 2017, R Energy Ltd. issued 10,000, 7% Debentures of Rs. 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made. Prepare the Balance Sheet (extract) as at 31st March, 2018. July 18, 2022