List any two items that may appear on the credit side of the Capital Account of a partner when the capitals are fluctuating. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Interest on Capital. (ii) Share of Profit. 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 PostList any two items that may appear on the debit side of the Capital Account of a partner when the capitals are fluctuating. Next PostIn case of fluctuating capitals, where will you record drawings and interest on drawings? You Might Also Like Venus Ltd. issued 40,000; 10% Debentures of Rs. 100 each at par for cash payable in full along with the application. Applications were received for 60,000 debentures. Debentures were allotted and excess application money was refunded. Pass Journal entries in the books of the company. July 16, 2022 Name any two financial statements of a Company. September 30, 2022 Pass necessary Journal entries on the dissolution of a firm in the following cases: (a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam. (b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. (c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. Deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm’s bank account. (d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to Realisation Account. (e) Jay’s, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jay’s were Rs. 12,000. These expenses were paid by Jay’s by drawing cash from the firm. (f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full settlement of his account. July 25, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Venus Ltd. issued 40,000; 10% Debentures of Rs. 100 each at par for cash payable in full along with the application. Applications were received for 60,000 debentures. Debentures were allotted and excess application money was refunded. Pass Journal entries in the books of the company. July 16, 2022
Pass necessary Journal entries on the dissolution of a firm in the following cases: (a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam. (b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. (c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. Deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm’s bank account. (d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to Realisation Account. (e) Jay’s, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jay’s were Rs. 12,000. These expenses were paid by Jay’s by drawing cash from the firm. (f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full settlement of his account. July 25, 2022