Give the meaning of ‘Liability of Partners’ as a feature of partnership. (C.B.S.E 2020) Post category:Accountancy Reading time:1 mins read SOLUTION The liability of partners is unlimited jointly and severally. 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 status of partnership firm from an accounting viewpoint? Next PostWhat is the minimum number of partners a firm should have? You Might Also Like R Ltd. purchased the assets of S Ltd. for Rs. 5,00,000. It also agreed to take over the liabilities of S Ltd. amounted to Rs. 2,00,000 for a purchase consideration of Rs. 2,80,000. The payment of S Ltd. was made by issue of 9% Debentures of Rs. 100 each at par. Pass necessary journal entries in the books of R Ltd. July 16, 2022 State the ratio in which the old partners share the amount of cash brought in by the new partner as premium for goodwill. September 26, 2022 How will you classify loans given by Tata Finance Company? October 6, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
R Ltd. purchased the assets of S Ltd. for Rs. 5,00,000. It also agreed to take over the liabilities of S Ltd. amounted to Rs. 2,00,000 for a purchase consideration of Rs. 2,80,000. The payment of S Ltd. was made by issue of 9% Debentures of Rs. 100 each at par. Pass necessary journal entries in the books of R Ltd. July 16, 2022
State the ratio in which the old partners share the amount of cash brought in by the new partner as premium for goodwill. September 26, 2022