(Resolve it with the help of Chartered Accountants)
Why heirs of retiring / deceased partner are entitled to share of goodwill of the firm? (Delhi 2014)
Give the accounting entry for an unrecorded liability in case of reconstitution of partnership firm.
State the closing entries for: (a) rent paid to a partner; (b) interest on loan allowed to partners.
From the following Balance Sheet of Samta Ltd., as at 31st March, 2019, prepare Cash Flow Statement:
Why heirs of retiring / deceased partner are entitled to share of goodwill of the firm? (Delhi 2014)
Give the accounting entry for an unrecorded liability in case of reconstitution of partnership firm.
State the closing entries for: (a) rent paid to a partner; (b) interest on loan allowed to partners.
From the following Balance Sheet of Samta Ltd., as at 31st March, 2019, prepare Cash Flow Statement: