Give two reasons in favour of having a Partnership Deed. Post category:Accountancy Reading time:1 mins read SOLUTION (i) In case of any dispute or doubt, Partnership Deed is the guiding document;(ii) It can specify the rights and duties of each 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 PostGupta and Sharma were partners in a firm. They wanted to admit two more members in the firm. List the categories of individuals other than minors who cannot be admitted by them. (Delhi 2017) Next PostKajal, Neerav and Alisha are partners in a firm sharing profits in the ratio of 3: 2: 1. They decided to admit Rajan, their landlord as a partner in the firm. Rajan brought sufficient amount of capital and his share of goodwill premium. The accountant of the firm passed the entry of rent paid for the building to Rajan in ‘Profit and Loss Appropriation Account’. Is he correct in doing so? Give reason in support of your answer. (Al 2015 C) You Might Also Like Do all forms of business organisations prepare a Profit and Loss Appropriation Account? September 26, 2022 Mention two items that may appear on the credit side of a Partner’s Fixed Capital Account. September 23, 2022 What are liquid assets? October 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Do all forms of business organisations prepare a Profit and Loss Appropriation Account? September 26, 2022
Mention two items that may appear on the credit side of a Partner’s Fixed Capital Account. September 23, 2022