What is meant by “Unlimited Liability of a Partner”? Post category:Accountancy Reading time:1 mins read SOLUTION The personal assets of the partner can be utilized for paying firm’s debts. 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 PostSix friends started a partnership business by investing Rs. 2.00,000 each. They decided to share profit equally. Name the terms by which they will be called individually and collectively. Next PostThe business of a partnership firm may be carried on by all the partners or any one of them acting for all. One of the important implications of this statement is that every partner is entitled to participate in the conduct of the affairs of its business. State the second important implication of this statement. (C.B.S.E. 2020. Kerala) You Might Also Like The Directors of M Ltd resolved on 1st May, 2015 that 2,000 Equity Shares of Rs. 10 each, Rs. 7.50 paid be forfeited for non-payment of final call of Rs. 2.50. On 10th June, 2015, 1,800 of these shares were reissued for Rs. 6 per share. Give necessary Journal entries. July 14, 2022 Calculate Debt to Equity Ratio: Equity Share Capital Rs. 5,00,000; General Reserve Rs. 90,000; Accumulated Profits Rs. 50,000; 10% Debentures Rs. 1,30,000; Current Liabilities Rs. 1,00,000. August 12, 2022 Net Profit before Interest and Tax Rs. 4,00,000; 15% Long-term Debt Rs. 8,00,000; Shareholders’ Funds Rs. 4,00,000. Calculate Return on Investment. August 17, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
The Directors of M Ltd resolved on 1st May, 2015 that 2,000 Equity Shares of Rs. 10 each, Rs. 7.50 paid be forfeited for non-payment of final call of Rs. 2.50. On 10th June, 2015, 1,800 of these shares were reissued for Rs. 6 per share. Give necessary Journal entries. July 14, 2022
Calculate Debt to Equity Ratio: Equity Share Capital Rs. 5,00,000; General Reserve Rs. 90,000; Accumulated Profits Rs. 50,000; 10% Debentures Rs. 1,30,000; Current Liabilities Rs. 1,00,000. August 12, 2022
Net Profit before Interest and Tax Rs. 4,00,000; 15% Long-term Debt Rs. 8,00,000; Shareholders’ Funds Rs. 4,00,000. Calculate Return on Investment. August 17, 2022