List any two items that need adjustments in books of account of a firm at the time of admission of a partner. (A1 2014 C) Post category:Accountancy Reading time:1 mins read SOLUTION (i) Adjustment of Accumulated Profits, Losses and Reserves,(ii) Adjustment of Goodwill. 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 PostS, B and j were partners in a firm. T was admitted as a partner in the partnership firm for l/5th share of profits. Calculate the sacrificing ratio of S, B and j. (C.B.S.E. 2019) Next PostWhy is it necessary to revalue assets and liabilities of a firm in case of admission of a partner? (C.B.S.E. Sample Paper 2018) You Might Also Like A and B are partners in a firm sharing profits in the ratio of 3 : 2. They admit C as a partner on 1st April, 2019 on which date the Balance Sheet of the firm was: August 1, 2022 A, B and C who are presently sharing profits and losses in the ratio of 5: 3: 2 decide to share future profits and losses in the ratio of 2: 3: 5. Give the Journal entry to distribute ‘Workmen Compensation Reserve’ of Rs. 1,20,000 at the time of change in profit-sharing ratio, when: (i) No information is given; (ii) there is no claim against it. October 28, 2022 Payment and receipt of interest and dividend is classified as which type of activity while preparing Cash Flow Statement. (C.B.S.E. 2019) October 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B are partners in a firm sharing profits in the ratio of 3 : 2. They admit C as a partner on 1st April, 2019 on which date the Balance Sheet of the firm was: August 1, 2022
A, B and C who are presently sharing profits and losses in the ratio of 5: 3: 2 decide to share future profits and losses in the ratio of 2: 3: 5. Give the Journal entry to distribute ‘Workmen Compensation Reserve’ of Rs. 1,20,000 at the time of change in profit-sharing ratio, when: (i) No information is given; (ii) there is no claim against it. October 28, 2022
Payment and receipt of interest and dividend is classified as which type of activity while preparing Cash Flow Statement. (C.B.S.E. 2019) October 4, 2022