Name two items which are credited to the Capital Account of a partner upon his death. Post category:Accountancy Reading time:1 mins read SOLUTION (i) His share of life policy, (ii) His share of undistributed profits or reserves. 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 basis of calculation of deceased partner’s share of profit from the date of last balance sheet to the date of his death? (C.B.S.E. 2019.Kerala) Next PostWhat 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? You Might Also Like Ratio of Current Assets (Rs. 3,00,000) to Current Liabilities (Rs. 2,00,000) is 1.5: 1. The accountant of the firm interested is maintain in a Current Ratio of 2: 1 by paying off a part of the Current Liabilities. Compute amount of the Current Liabilities that should be paid so that the Current Ratio at the level of 2: 1 may be maintained. August 12, 2022 B and C are in partnership sharing profits and losses as 3 : 1. They admit D into the firm, D pays premium of Rs. 15,000 for 1/3rd share of the profits. As between themselves, B and C agree to share future profits and losses equally. Draft Journal entries showing appropriations of the premium money. August 1, 2022 A and B were partners in a firm sharing profits in 3 : 1 ratio. They admitted C as a partner for 1/4th share in the future profits. C was to bring Rs. 60,000 for his capital. The Balance Sheet of A and B as at 1st April, 2019, the date on which C was admitted, was: August 2, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Ratio of Current Assets (Rs. 3,00,000) to Current Liabilities (Rs. 2,00,000) is 1.5: 1. The accountant of the firm interested is maintain in a Current Ratio of 2: 1 by paying off a part of the Current Liabilities. Compute amount of the Current Liabilities that should be paid so that the Current Ratio at the level of 2: 1 may be maintained. August 12, 2022
B and C are in partnership sharing profits and losses as 3 : 1. They admit D into the firm, D pays premium of Rs. 15,000 for 1/3rd share of the profits. As between themselves, B and C agree to share future profits and losses equally. Draft Journal entries showing appropriations of the premium money. August 1, 2022
A and B were partners in a firm sharing profits in 3 : 1 ratio. They admitted C as a partner for 1/4th share in the future profits. C was to bring Rs. 60,000 for his capital. The Balance Sheet of A and B as at 1st April, 2019, the date on which C was admitted, was: August 2, 2022