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 Following is the Balance Sheet of X and Y as at 31st March, 2019 who are partners in a firm sharing profits and losses in the ratio of 3 : 2 respectively : August 2, 2022 X, Y and Z are equal partners with capitals of Rs. 1,500; Rs. 1,750 and Rs. 2,000 respectively. They agree to admit W into equal partnership upon payment in cash Rs. 1,500 for 1/4th share of the goodwill and Rs. 1,800 as his capital, both sums to remain in the business. The liabilities of the old firm amounted to Rs. 3,000 and the assets, apart from cash, consist of Motors Rs. 1,200, Furniture Rs. 400, Stock Rs. 2,650 and Debtors Rs. 3,780. The Motors and Furniture were revalued at Rs. 950 and Rs. 380 respectively. Pass Journal entries to give effect to the above arrangement and also show Balance Sheet of the new firm. August 1, 2022 Ramesh and Umesh were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2013, their Balance Sheet was as follows: July 25, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Following is the Balance Sheet of X and Y as at 31st March, 2019 who are partners in a firm sharing profits and losses in the ratio of 3 : 2 respectively : August 2, 2022
X, Y and Z are equal partners with capitals of Rs. 1,500; Rs. 1,750 and Rs. 2,000 respectively. They agree to admit W into equal partnership upon payment in cash Rs. 1,500 for 1/4th share of the goodwill and Rs. 1,800 as his capital, both sums to remain in the business. The liabilities of the old firm amounted to Rs. 3,000 and the assets, apart from cash, consist of Motors Rs. 1,200, Furniture Rs. 400, Stock Rs. 2,650 and Debtors Rs. 3,780. The Motors and Furniture were revalued at Rs. 950 and Rs. 380 respectively. Pass Journal entries to give effect to the above arrangement and also show Balance Sheet of the new firm. August 1, 2022
Ramesh and Umesh were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2013, their Balance Sheet was as follows: July 25, 2022
