Gupta and Sharma were partners in a firm. They wanted to admit two more members in the firm. list the categories of individual other than minors who cannot be admitted by them. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Persons of unsound mind; (ii) Persons who have been declared insolvent. 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 is the maximum number of partners that a partnership firm can have? Name the Act that provides for the maximum number of partners in a partnership firm. Next PostA group of 40 people wants to form a partnership firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the Act under whose provisions it is given. (C.B.S.E 2016, All India) You Might Also Like State the ‘liability of a partner’ in a partnership firm.(C.B.S.E. 2019. Delhi) September 23, 2022 From the following particulars, calculate new profit-sharing ratio of the partners: (a) Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5: 5: 4. Mohan died and his share was taken equally between Shiv and Hari. (b) P, Q and R were partners sharing profits in the ratio of 5: 4: 1. P died from. August 4, 2022 X, Y and Z were in partnership sharing profits and losses equally. ‘Y’ retires from the firm. After adjustments, his Capital Account shows a credit balance of Rs. 3,00,000 as on 1st April, 2016. Balance due to ‘Y’ is to be paid in three equal annual instalments along with interest @ 10% p.a. Prepare Y’s Loan Account until he is paid the amount due to him. The firm closes its books on 31st March every year. August 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
From the following particulars, calculate new profit-sharing ratio of the partners: (a) Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5: 5: 4. Mohan died and his share was taken equally between Shiv and Hari. (b) P, Q and R were partners sharing profits in the ratio of 5: 4: 1. P died from. August 4, 2022
X, Y and Z were in partnership sharing profits and losses equally. ‘Y’ retires from the firm. After adjustments, his Capital Account shows a credit balance of Rs. 3,00,000 as on 1st April, 2016. Balance due to ‘Y’ is to be paid in three equal annual instalments along with interest @ 10% p.a. Prepare Y’s Loan Account until he is paid the amount due to him. The firm closes its books on 31st March every year. August 4, 2022