What is meant by dissolution of a firm? Post category:Accountancy Reading time:1 mins read SOLUTION Dissolution of a firm means the dissolution of partnership among all the partners of the firm and the firm’s business is closed. 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 PostRiyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8: 7: 5. On 2nd November, 2018, Kavleen died. Kavleen’s share of profits till the date of her death was calculated at Rs. 9,375. Pass the necessary journal entry. (CBSE Sample Paper 2019) Next PostWhat is Dissolution of Partnership? You Might Also Like Calculate Operating Profit Ratio, in each of the following alternative cases: Case 1: Revenue from Operations (Net Sales) Rs. 10,00,000; Operating Profit Rs. 1,50,000. Case 2: Revenue from Operations (Net Sales) Rs. 6,00,000; Operating Cost Rs. 5,10,000. Case 4: Revenue from Operations (Net Sales) Rs. 3,60,000; Gross Profit 20% on Sales; Operating Expenses Rs. 18,000. Case 4: Revenue from Operations (Net Sales) Rs. 4,50,000; Cost of Revenue from Operations Rs. 3,60,000; Operating Expenses Rs. 22,500. Case 5: Cost of Goods Sold, i.e., Cost of Revenue from Operations Rs. 8,00,000; Gross Profit 20% on Sales; Operating Expenses Rs. 50,000. August 17, 2022 How will the Realisation Account closed, if it discloses a loss? September 27, 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 Leave a Reply Cancel replyYou must be logged in to post a comment.
Calculate Operating Profit Ratio, in each of the following alternative cases: Case 1: Revenue from Operations (Net Sales) Rs. 10,00,000; Operating Profit Rs. 1,50,000. Case 2: Revenue from Operations (Net Sales) Rs. 6,00,000; Operating Cost Rs. 5,10,000. Case 4: Revenue from Operations (Net Sales) Rs. 3,60,000; Gross Profit 20% on Sales; Operating Expenses Rs. 18,000. Case 4: Revenue from Operations (Net Sales) Rs. 4,50,000; Cost of Revenue from Operations Rs. 3,60,000; Operating Expenses Rs. 22,500. Case 5: Cost of Goods Sold, i.e., Cost of Revenue from Operations Rs. 8,00,000; Gross Profit 20% on Sales; Operating Expenses Rs. 50,000. August 17, 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