What is the treatment of provisions against assets on dissolution of a firm? Post category:Accountancy Reading time:1 mins read SOLUTION Provisions against assets are credited to Realisation A/c. 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 PostAt which value the assets against which provisions exist are transferred to Realisation Account? Next PostWhat entry is passed when an asset is given to a Creditor in full settlement of his dues? You Might Also Like List any two items of operating activities that are typical of and pertaining to Electronic Media. October 6, 2022 What is meant by Issue of Debentures as Collateral Security? (C.B.S.E. 2018, 2020). September 29, 2022 Vikas, Gagan and Momita were partners in a firm sharing profits in the ratio of 2 : 2 : 1. The firm closes its books on 31st March every year. On 30th September, 2014 Momita died. According to the provisions of Partnership Deed the legal representatives of a deceased partner are entitled for the following in the event of his/her death: (a) Capital as per the last Balance Sheet. (b) Interest on capital at 6% per annum till the date of her death. (c) Her share of profit to the date of death calculated on the basis of average profit of last four years. (d) Her share of goodwill to be determined on the basis of three years’ purchase of the average profit of last four years. The profits of last four years were: August 5, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
List any two items of operating activities that are typical of and pertaining to Electronic Media. October 6, 2022
What is meant by Issue of Debentures as Collateral Security? (C.B.S.E. 2018, 2020). September 29, 2022
Vikas, Gagan and Momita were partners in a firm sharing profits in the ratio of 2 : 2 : 1. The firm closes its books on 31st March every year. On 30th September, 2014 Momita died. According to the provisions of Partnership Deed the legal representatives of a deceased partner are entitled for the following in the event of his/her death: (a) Capital as per the last Balance Sheet. (b) Interest on capital at 6% per annum till the date of her death. (c) Her share of profit to the date of death calculated on the basis of average profit of last four years. (d) Her share of goodwill to be determined on the basis of three years’ purchase of the average profit of last four years. The profits of last four years were: August 5, 2022