How will the Realisation Account closed, if it discloses a loss? Post category:Accountancy Reading time:1 mins read SOLUTION It is closed by transferring to the debit side of partner’s capital accounts in their profit-sharing ratio. 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 PostOn dissolution of a firm, what entry is passed on making payment of realization expenses by a partner? Next PostOn firm’s dissolution, which account should he prepared at the last? You Might Also Like Sita and Geeta are partners in a firm sharing profits in the ratio of 3: 2. They had advanced to the firm a sum of Rs. 30,000 as a loan in their profit-sharing ratio on 1st October, 2021. The Partnership Deed is silent on interest on loans from partners. Compute interest payable by the firm to the partners, assuming the firm closes its books every year on 31st March. September 16, 2022 A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1 respectively. Their Balance Sheet as at 31st March, 2019 is as follows: August 1, 2022 What is deferred tax liability? September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Sita and Geeta are partners in a firm sharing profits in the ratio of 3: 2. They had advanced to the firm a sum of Rs. 30,000 as a loan in their profit-sharing ratio on 1st October, 2021. The Partnership Deed is silent on interest on loans from partners. Compute interest payable by the firm to the partners, assuming the firm closes its books every year on 31st March. September 16, 2022
A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1 respectively. Their Balance Sheet as at 31st March, 2019 is as follows: August 1, 2022