What is the ideal Quick Ratio? Post category:Accountancy Reading time:1 mins read SOLUTION Ideal Quick Ratio is 1: 1. 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 are liquid assets? Next PostWhat are the other names of liquid ratio? You Might Also Like Anna and Bobby were partners sharing profits and losses in the ratio of 5: 3. On 1st April, 2014, their Capital Accounts showed balances of Rs. 3,00,000 and Rs. 2,00,000 respectively. Calculate the amount of profit to be distributed between the partners if the Partnership Deed provided for Interest on Capital @10% p.a. and the firm earned a profit of Rs. 45,000 for the year ended 31st March, 2015. (C.B.S.E. 2016, Comptt. Outside Delhi) September 26, 2022 Dividend paid is classified under which kind of activity while preparing cash How statement? October 6, 2022 Partnership Deed of C and D, who are equal partners, has a clause that any partner may retire from the firm on the following terms by giving a six-month notice in writing: The retiring partner shall be paid − (a) the amount standing to the credit of his Capital Account and Current Account. (b) his share of profit to the date of retirement, calculated on the basis of the average profit of the three preceding completed years. (c) half the amount of the goodwill of the firm calculated at 11/2 times the average profit of the three preceding completed years. C gave a notice on 31st March, 2017 to retire on 30th September, 2017, when the balance of his Capital Account was Rs. 6,000 and his Current Account (Dr.) Rs. 500. Profits for the three preceding completed years ended 31st March, were: 2015 − Rs. 2,800; 2016 − Rs. 2,200 and 2017 − Rs. 1,600. What amount is due to C as per the partnership agreement? August 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Anna and Bobby were partners sharing profits and losses in the ratio of 5: 3. On 1st April, 2014, their Capital Accounts showed balances of Rs. 3,00,000 and Rs. 2,00,000 respectively. Calculate the amount of profit to be distributed between the partners if the Partnership Deed provided for Interest on Capital @10% p.a. and the firm earned a profit of Rs. 45,000 for the year ended 31st March, 2015. (C.B.S.E. 2016, Comptt. Outside Delhi) September 26, 2022
Dividend paid is classified under which kind of activity while preparing cash How statement? October 6, 2022
Partnership Deed of C and D, who are equal partners, has a clause that any partner may retire from the firm on the following terms by giving a six-month notice in writing: The retiring partner shall be paid − (a) the amount standing to the credit of his Capital Account and Current Account. (b) his share of profit to the date of retirement, calculated on the basis of the average profit of the three preceding completed years. (c) half the amount of the goodwill of the firm calculated at 11/2 times the average profit of the three preceding completed years. C gave a notice on 31st March, 2017 to retire on 30th September, 2017, when the balance of his Capital Account was Rs. 6,000 and his Current Account (Dr.) Rs. 500. Profits for the three preceding completed years ended 31st March, were: 2015 − Rs. 2,800; 2016 − Rs. 2,200 and 2017 − Rs. 1,600. What amount is due to C as per the partnership agreement? August 3, 2022
