What is meant by fixed capital of partners? Post category:Accountancy Reading time:1 mins read SOLUTION Partner’s capital is said to be fixed when the capital of partners remain unaltered, unless additional capital is introduced or a part of the capital is withdrawn permanently as per agreement among the partners. 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 PostKavita and Laxmi run a charitable dispensary. Kavita wants to have a partnership deed. What is your opinion? Next PostWhat is meant by fluctuating capital of partners? You Might Also Like Mohan and Sohan were partners in a firm sharing profits and losses in the ratio of 3 : 2. They admitted Ram for 1/4th share on 1st April, 2019. It was agreed that goodwill of the firm will be valued at 3 years’ purchase of the average profit of last 4 years ended 31st March, were Rs. 50,000 for 2015-16, Rs. 60,000 for 2016-17, Rs. 90,000 for 2017-18 and Rs. 70,000 for 2018-19. Ram did not bring his share of goodwill premium in cash. Record the necessary Journal entries in the books of the firm on Ram’s admission when: (a) Goodwill appears in the books at Rs. 2,02,500. (b) Goodwill appears in the books at Rs. 2,500. (c) Goodwill appears in the books at Rs. 2,05,000. August 1, 2022 Why liquid ratio is considered more dependable than current ratio? October 3, 2022 Total Debt Rs. 12,00,000; Shareholders’ Funds Rs. 2,00,000; Reserves and Surplus Rs. 50,000; Current Assets Rs. 5,00,000; Working Capital Rs. 1,00,000. Calculate Total Assets to Debt Ratio. August 12, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Mohan and Sohan were partners in a firm sharing profits and losses in the ratio of 3 : 2. They admitted Ram for 1/4th share on 1st April, 2019. It was agreed that goodwill of the firm will be valued at 3 years’ purchase of the average profit of last 4 years ended 31st March, were Rs. 50,000 for 2015-16, Rs. 60,000 for 2016-17, Rs. 90,000 for 2017-18 and Rs. 70,000 for 2018-19. Ram did not bring his share of goodwill premium in cash. Record the necessary Journal entries in the books of the firm on Ram’s admission when: (a) Goodwill appears in the books at Rs. 2,02,500. (b) Goodwill appears in the books at Rs. 2,500. (c) Goodwill appears in the books at Rs. 2,05,000. August 1, 2022
Total Debt Rs. 12,00,000; Shareholders’ Funds Rs. 2,00,000; Reserves and Surplus Rs. 50,000; Current Assets Rs. 5,00,000; Working Capital Rs. 1,00,000. Calculate Total Assets to Debt Ratio. August 12, 2022