Retirement or death of a partner wilt create a situation for the continuing partners, which is known as: (a) Dissolution of Partnership. (b) Dissolution of Partnership Firm; (c) Winding up of business. (d) None of these. (C.B.S.E. Sample Paper 2020) Post category:Accountancy Reading time:1 mins read SOLUTION (a) Dissolution of Partnership. 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 PostNeetu, Meetu and Teetu were partners in a firm. On 1st January, 2018, Meetu retired. On Meetu’s retirement the goodwill of the firm was valued at Rs. 4,20,000. Pass necessary Journal entry for the treatment of goodwill on Meetu’s retirement. (Delhi and A1 2018) Next PostP, Q and R were partners in a firm. On 31st March, 2018 R retired. The amount payable to R Rs. 2,17,000 was transferred to his loan account. R agreed to receive interest on this amount as per the provisions of Partnership Act, 1932. State the rate at which interest will be paid to R. (CBSE 2019) You Might Also Like A and B are partners sharing profits and losses in the ratio of 2 : 5. They admit C on the condition that he will bring Rs. 14,000 as his share of goodwill to be distributed between A and B. C’s share in the future profits or losses will be 1/4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by C will be received by A and B? August 1, 2022 Calculate Inventory Turnover Ratio from the following information: Opening Inventory is Rs. 50,000; Purchases Rs. 3,90,000; Revenue from Operations, i.e., Net Sales Rs. 6,00,000; Gross Profit Ratio 30%. August 13, 2022 What is meant by redemption of debentures out of Capital? September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B are partners sharing profits and losses in the ratio of 2 : 5. They admit C on the condition that he will bring Rs. 14,000 as his share of goodwill to be distributed between A and B. C’s share in the future profits or losses will be 1/4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by C will be received by A and B? August 1, 2022
Calculate Inventory Turnover Ratio from the following information: Opening Inventory is Rs. 50,000; Purchases Rs. 3,90,000; Revenue from Operations, i.e., Net Sales Rs. 6,00,000; Gross Profit Ratio 30%. August 13, 2022