At which value the assets against which provisions exist are transferred to Realisation Account? Post category:Accountancy Reading time:1 mins read SOLUTION Assets against which provisions exist are transferred to Realisation Account at gross value. 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 PostDo you think that the loan by a partner’s relative is transferred to Realisation Account at the time of dissolution of a firm? Why? Next PostWhat is the treatment of provisions against assets on dissolution of a firm? You Might Also Like Three Chartered Accountants Abhijit, Baljit and Charanjit form a partnership, profits being shared in the ratio of 3: 2: 1 subject to the following: (a) Charanjit’s share of profit guaranteed to be not less than Rs. 15,000 p.a. (b) Baljit gives a guarantee to the effect that gross fee earned by him for the firm shall be equal to his average gross fee of the preceding five years when he was carrying on profession alone, which on an average works out at Rs. 25,000. The profit for the first year of the partnership are Rs. 75,000. The gross fee earned by Baljit for the firm is Rs. 16,000. You are required to show Profit and Loss Appropriation Account after giving effect to the above. October 18, 2022 Give any two points of distinction between a Share and a Debenture. September 29, 2022 Inventory turnover ratio of a Company is 3 times. State, giving reason, whether the ratio improves, declines or does not alter because of purchase of goods for Rs. 10,000. October 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Three Chartered Accountants Abhijit, Baljit and Charanjit form a partnership, profits being shared in the ratio of 3: 2: 1 subject to the following: (a) Charanjit’s share of profit guaranteed to be not less than Rs. 15,000 p.a. (b) Baljit gives a guarantee to the effect that gross fee earned by him for the firm shall be equal to his average gross fee of the preceding five years when he was carrying on profession alone, which on an average works out at Rs. 25,000. The profit for the first year of the partnership are Rs. 75,000. The gross fee earned by Baljit for the firm is Rs. 16,000. You are required to show Profit and Loss Appropriation Account after giving effect to the above. October 18, 2022
Inventory turnover ratio of a Company is 3 times. State, giving reason, whether the ratio improves, declines or does not alter because of purchase of goods for Rs. 10,000. October 3, 2022