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 State with reason whether ‘Short term deposits in Banks’ will result in inflow, outflow or no flow of cash. October 6, 2022 Nimrat, Maira and Kabir are partners sharing profits in the ratio of 2: 2: 1. Nimrat is guaranteed minimum profit of Rs. 1,60,000 per annum. Net Profit for the year ended 31st March, 2022 is Rs. 1,00,000. Prepare Profit & Loss Appropriation Account for the year. October 18, 2022 Under what heads the following items in the Balance Sheet of a Company will be presented: (i) Sundry Debtors; (ii) Sundry Creditors. September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
State with reason whether ‘Short term deposits in Banks’ will result in inflow, outflow or no flow of cash. October 6, 2022
Nimrat, Maira and Kabir are partners sharing profits in the ratio of 2: 2: 1. Nimrat is guaranteed minimum profit of Rs. 1,60,000 per annum. Net Profit for the year ended 31st March, 2022 is Rs. 1,00,000. Prepare Profit & Loss Appropriation Account for the year. October 18, 2022
Under what heads the following items in the Balance Sheet of a Company will be presented: (i) Sundry Debtors; (ii) Sundry Creditors. September 30, 2022