State any two grounds on the basis of which the Court may order for dissolution of a partnership firm. (CBSE 2019) Post category:Accountancy Reading time:1 mins read SOLUTION (i) Persistent breach of agreement by a partner.(ii) Insanity of a partner.(iii) Permanent incapacity of a partner. 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 PostState any two situations when a partnership firm may be compulsorily dissolved. (C.B.S.E. 2019) Next PostState any one occasion for the dissolution of the firm on Court’s orders. (Delhi 2017 C) You Might Also Like What is Coupon rate? September 29, 2022 Kumar, Verma and Naresh were partners in a firm sharing Profits and Losses in the ratio of 3: 2: 2. On 23rd January, 2015 Verma died. Verma’s share of profit till the date of his death was calculated at Rs. 2350. Pass necessary Journal entry for the same in the books of the firm. August 4, 2022 Aman commenced business with a capital of Rs. 2,50,000 on 1st April, 2013. During the five years ended 31st March, 2018, the following profits and losses were made: 31st March, 2014−Loss Rs. 5,000 31st March, 2015−Profit Rs. 13,000 31st March, 2016−Profit Rs. 17,000 31st March, 2017−Profit Rs. 20,000 31st March, 2018−Profit Rs. 25,000 During this period he had drawn Rs. 40,000 for his personal use. On 1st April, 2018, he admitted Boman into partnership on the following terms: Boman to bring for his half share in the business, capital equal to A’s Capital on 31st March, 2018 and to pay for the one-half share of goodwill of the business, on the basis of three times the average profit of the last five years. Prepare the statement showing what amount Boman should invest to become a partner and pass entries to record the transactions relating to admission. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Kumar, Verma and Naresh were partners in a firm sharing Profits and Losses in the ratio of 3: 2: 2. On 23rd January, 2015 Verma died. Verma’s share of profit till the date of his death was calculated at Rs. 2350. Pass necessary Journal entry for the same in the books of the firm. August 4, 2022
Aman commenced business with a capital of Rs. 2,50,000 on 1st April, 2013. During the five years ended 31st March, 2018, the following profits and losses were made: 31st March, 2014−Loss Rs. 5,000 31st March, 2015−Profit Rs. 13,000 31st March, 2016−Profit Rs. 17,000 31st March, 2017−Profit Rs. 20,000 31st March, 2018−Profit Rs. 25,000 During this period he had drawn Rs. 40,000 for his personal use. On 1st April, 2018, he admitted Boman into partnership on the following terms: Boman to bring for his half share in the business, capital equal to A’s Capital on 31st March, 2018 and to pay for the one-half share of goodwill of the business, on the basis of three times the average profit of the last five years. Prepare the statement showing what amount Boman should invest to become a partner and pass entries to record the transactions relating to admission. August 1, 2022