What is the financial year in case of a Company? Post category:Accountancy Reading time:1 mins read SOLUTION From 1st April to 31st March. 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 PostName any two financial statements of a Company. Next PostWhat is the number of major heads of the Assets side of a Company’s Balance Sheet? You Might Also Like What is the nature of ‘Revaluation Account’? September 26, 2022 Dissolution expenses amounting to Rs. 6,000 were to be borne by partner X and the balance by the firm. Dissolution expenses amounted to Rs. 15,000 and the entire amount was paid by firm. Pass journal entry. September 27, 2022 X and Y are partners sharing profits in the ratio of 3: 2 with capitals of Rs. 8,00,000 and Rs. 6,00,000 respectively. Interest on capital is agreed @ 5% p.a. Y is to be allowed an annual salary of Rs. 60,000 which has not been withdrawn. Profit for the year ended 31st March, 2019 before interest on capital but after charging Y’s salary amounted to Rs. 2,40,000. A provision of 5% of the profit is to be made in respect commission to the manager. Prepare an account showing the allocation profits. July 20, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Dissolution expenses amounting to Rs. 6,000 were to be borne by partner X and the balance by the firm. Dissolution expenses amounted to Rs. 15,000 and the entire amount was paid by firm. Pass journal entry. September 27, 2022
X and Y are partners sharing profits in the ratio of 3: 2 with capitals of Rs. 8,00,000 and Rs. 6,00,000 respectively. Interest on capital is agreed @ 5% p.a. Y is to be allowed an annual salary of Rs. 60,000 which has not been withdrawn. Profit for the year ended 31st March, 2019 before interest on capital but after charging Y’s salary amounted to Rs. 2,40,000. A provision of 5% of the profit is to be made in respect commission to the manager. Prepare an account showing the allocation profits. July 20, 2022
