In case the partner ‘s capital accounts are fixed; withdrawal of capital is recorded in which account?(C.B.S. E. 2020, Mumbai, Chennai) Post category:Accountancy Reading time:1 mins read SOLUTION Partner’s Capital Accounts. 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 PostWhen salary to partners, interest on capital, drawings, interest on drawings, Interest on Drawing etc. are recorded in capital accounts of partners, which method we are following to maintain the capital account? Next PostWhy does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (C.B.S.E. 2020, Mumbai, Chennai) You Might Also Like State why non-cash transactions are ignored while preparing a Cash Flow Statement? October 6, 2022 The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022 What is Current Ratio? October 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022