On dissolution of a partnership firm, where is profit or loss on realization transferred? Post category:Accountancy Reading time:1 mins read SOLUTION In the Partner’s Capital Accounts in their profit-sharing ratio. 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 PostIn the event of dissolution of a partnership firm, where is the provision for doubtful debts transferred? Next PostOn dissolution, what entry is passed if a partner under takes to make payment of a liability of the firm? You Might Also Like Compute Cash Flow from Operating Activities from the following: August 18, 2022 X Ltd. was formed with a capital of 10,00,000 divided into shares of 100 each. It offered 90% shares to public for subscription. The amount per share was payable as 40% on application, 20% on allotment and the balance on first and final call. The applicants paid 3,60,000 on application and 1,69,000 on allotment. The call has not yet been made. Calculate:(a) Authorised Capital, (b) Issued Capital, (c) Subscribed Capital, (d) Called-up Capital, (e) Paid-up Capital and (f) Calls-in-Arrears. July 14, 2022 Anshul and Parul are partners sharing profits in the ratio of 3 : 2. They admit Payal as partner for 1/4th share in profits on 1st April, 2019. Payal brings Rs. 5,00,000 as capital and her share of goodwill by cheque. It was agreed to value goodwill at three years’ purchase of average profit of last four years. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X Ltd. was formed with a capital of 10,00,000 divided into shares of 100 each. It offered 90% shares to public for subscription. The amount per share was payable as 40% on application, 20% on allotment and the balance on first and final call. The applicants paid 3,60,000 on application and 1,69,000 on allotment. The call has not yet been made. Calculate:(a) Authorised Capital, (b) Issued Capital, (c) Subscribed Capital, (d) Called-up Capital, (e) Paid-up Capital and (f) Calls-in-Arrears. July 14, 2022
Anshul and Parul are partners sharing profits in the ratio of 3 : 2. They admit Payal as partner for 1/4th share in profits on 1st April, 2019. Payal brings Rs. 5,00,000 as capital and her share of goodwill by cheque. It was agreed to value goodwill at three years’ purchase of average profit of last four years. August 1, 2022