Is it necessary to have a partnership agreement in writing? Post category:Accountancy Reading time:1 mins read SOLUTION No. It is not necessary to have a partnership agreement in written form. An oral agreement is equally valid. However, in order to avoid disputes, it is preferred to have a written agreement. 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 PostWhy salary and commission paid to partners are recorded in Profit & Loss Appropriation Account instead of Profit & Loss Account? Next PostWhy is it important, to have a partnership deed in writing? You Might Also Like On dissolution of a firm, Sundry Creditors amounted to Rs. 8,000. These were paid at a discount of 5%. What entry will he passed? September 27, 2022 Eastern Company Limited, having an authorised capital of Rs. 10,00,000 divided into shares of Rs. 10 each, issued 50,000 shares at a premium of Rs. 3 per share payable as follows: July 13, 2022 For each of the following transactions, calculate the resulting Cash Flow and state the nature of Cash Flow, i.e., whether it is Operating, Investing or Financing: (a) Acquired machinery for Rs. 2,50,000 paying 20% by cheque and executing a bond for the balance payable. (b) Paid Rs. 2,50,000 to acquire shares in Informa Tech Ltd. and received a dividend of Rs. 50,000 after acquisition. (c) Sold machinery of original cost of Rs. 2,00,000 with an accumulated depreciation of Rs. 1,60,000 for Rs. 60,000. August 18, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
On dissolution of a firm, Sundry Creditors amounted to Rs. 8,000. These were paid at a discount of 5%. What entry will he passed? September 27, 2022
Eastern Company Limited, having an authorised capital of Rs. 10,00,000 divided into shares of Rs. 10 each, issued 50,000 shares at a premium of Rs. 3 per share payable as follows: July 13, 2022
For each of the following transactions, calculate the resulting Cash Flow and state the nature of Cash Flow, i.e., whether it is Operating, Investing or Financing: (a) Acquired machinery for Rs. 2,50,000 paying 20% by cheque and executing a bond for the balance payable. (b) Paid Rs. 2,50,000 to acquire shares in Informa Tech Ltd. and received a dividend of Rs. 50,000 after acquisition. (c) Sold machinery of original cost of Rs. 2,00,000 with an accumulated depreciation of Rs. 1,60,000 for Rs. 60,000. August 18, 2022