What journal entry’ will be recorded for deceased partner’s share in profit from the closure of last balance sheet till the date of his death? Post category:Accountancy Reading time:1 mins read SOLUTION Profit and Loss Suspense A/c Dr. To Deceased Partner’s Capital 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 PostName two items which are credited to the Capital Account of a partner upon his death. Next PostWhat journal entry will be recorded for writing off the goodwill already existing in Balance Sheet at the time of retirement of a partner? You Might Also Like Give an example of the activity which remains financing activity for every enterprise. (C.B.S.E. 2020, Mumbai, Chennai) October 6, 2022 Star Ltd was registered with a capital of Rs. 5,00,000 in shares of Rs. 10 each and issued 20,000 such shares at a premium of Rs. 2 per share, payable as Rs. 2 per share on application, Rs. 5 per share on allotment (including premium) and Rs. 2 per share on first call made three months later. All the money payable on application and allotment was duly received but when the first call was made, one shareholder paid the entire balance on his holding of 300 shares and another shareholder holding 1,000 shares failed to pay the first call money. Pass journal entries to record the above transactions and show how they will appear in the company’s Balance Sheet. July 14, 2022 From the following data, calculate Inventory Turnover Ratio: Total Sales Rs. 5,00,000; Sales Return Rs. 50,000; Gross Profit Rs. 90,000; Closing Inventory Rs. 1,00,000; Excess of Closing Inventory over Opening Inventory Rs. 20,000. August 13, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Give an example of the activity which remains financing activity for every enterprise. (C.B.S.E. 2020, Mumbai, Chennai) October 6, 2022
Star Ltd was registered with a capital of Rs. 5,00,000 in shares of Rs. 10 each and issued 20,000 such shares at a premium of Rs. 2 per share, payable as Rs. 2 per share on application, Rs. 5 per share on allotment (including premium) and Rs. 2 per share on first call made three months later. All the money payable on application and allotment was duly received but when the first call was made, one shareholder paid the entire balance on his holding of 300 shares and another shareholder holding 1,000 shares failed to pay the first call money. Pass journal entries to record the above transactions and show how they will appear in the company’s Balance Sheet. July 14, 2022
From the following data, calculate Inventory Turnover Ratio: Total Sales Rs. 5,00,000; Sales Return Rs. 50,000; Gross Profit Rs. 90,000; Closing Inventory Rs. 1,00,000; Excess of Closing Inventory over Opening Inventory Rs. 20,000. August 13, 2022