For which share of goodwill a partner is entitled at the time of his retirement? Post category:Accountancy Reading time:1 mins read SOLUTION Retiring partner is entitled to goodwill according to his share of profit in the firm. 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 treatment is made of accumulated profits and losses on the retirement of partner? Next PostHow goodwill is recorded on the retirement or death of a partner? You Might Also Like A, B and C started business on 1st April, 2018 with capitals of Rs. 1,00,000; Rs. 80,000 and Rs. 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 : 3. For the year ended 31st March, 2019, the firm suffered a loss of Rs. 50,000. Each of the partners withdrew Rs. 10,000 during the year. On 31st March, 2019, the firm was dissolved, the Creditors of the firm stood at Rs. 24,000 on that date and Cash in Hand was Rs. 4,000. The assets realised Rs. 3,00,000 and Creditors were paid Rs. 23,500 in full settlement of their claims. Prepare Realisation Account and show your workings clearly. July 26, 2022 Gross Profit at 25% on cost; Gross profit Rs. 5,00,000; Equity Share Capital Rs. 10,00,000; Reserves and Surplus Rs. 2,00,000; Long-term Loan Rs. 3,00,000; Fixed Assets (Net) Rs. 10,00,000. Calculate Working Capital Turnover Ratio August 16, 2022 From the information given below, calculate any three of the following ratio:(i) Gross Profit Ratio. (ii) Working Capital Turnover Ratio. (iii) Debt to Equity Ratio. (iv) Proprietary Ratio. August 18, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C started business on 1st April, 2018 with capitals of Rs. 1,00,000; Rs. 80,000 and Rs. 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 : 3. For the year ended 31st March, 2019, the firm suffered a loss of Rs. 50,000. Each of the partners withdrew Rs. 10,000 during the year. On 31st March, 2019, the firm was dissolved, the Creditors of the firm stood at Rs. 24,000 on that date and Cash in Hand was Rs. 4,000. The assets realised Rs. 3,00,000 and Creditors were paid Rs. 23,500 in full settlement of their claims. Prepare Realisation Account and show your workings clearly. July 26, 2022
Gross Profit at 25% on cost; Gross profit Rs. 5,00,000; Equity Share Capital Rs. 10,00,000; Reserves and Surplus Rs. 2,00,000; Long-term Loan Rs. 3,00,000; Fixed Assets (Net) Rs. 10,00,000. Calculate Working Capital Turnover Ratio August 16, 2022
From the information given below, calculate any three of the following ratio:(i) Gross Profit Ratio. (ii) Working Capital Turnover Ratio. (iii) Debt to Equity Ratio. (iv) Proprietary Ratio. August 18, 2022