Name an item which is transferred to credit side of Realisation Account at the time of dissolution of partnership firm, but does not involve cash payment. (C.B S.E. 2020, Mumbai Chennai) Post category:Accountancy Reading time:1 mins read SOLUTION Any one: Provision for Doubtful Debts; Accumulated Depreciation; Investment Fluctuation Fund. 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 PostState the order of payment of the following, in case of dissolution of partnership firm: (i) to each partner proportionately what is due to him / her from the firm for advances as distinguished from capital (i.e., partners’ loan); (ii) to each partner proportionately what is due to him on account of capital; and (iii) for the debts of the firm to the third parties. (C.B.S.E. Sample Paper, 2019) Next PostState two essential features of a company. You Might Also Like What is meant by ‘Solvency of Business’? (C.B.S.E. 2016) October 1, 2022 Calculate Inventory Turnover Ratio from the following information: Opening Inventory Rs. 40,000; Purchases Rs. 3,20,000; and Closing Inventory Rs. 1,20,000. State, giving reason, which of the following transactions would (i) increase, (ii) decrease, (iii) neither increase nor decrease the Inventory Turnover Ratio: (a) Sale of goods for Rs. 40,000 (Cost Rs. 32,000). (b) increase in the value of Closing Inventory by Rs. 40,000. (c) Goods purchased for Rs. 80,000. (d) Purchases Return Rs. 20,000. (e) goods costing Rs. 10,000 withdrawn for personal use. (f) Goods costing Rs. 20,000 distributed as free samples. August 13, 2022 Yogesh and Naresh are partners sharing profits in the ratio of 3 : 2. They admit Ramesh for 1/3rd share on 1st April, 2019 and also decide to share future profits equally. Balance Sheet of the firm as at 31st March, 2019 was as follows: August 2, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Calculate Inventory Turnover Ratio from the following information: Opening Inventory Rs. 40,000; Purchases Rs. 3,20,000; and Closing Inventory Rs. 1,20,000. State, giving reason, which of the following transactions would (i) increase, (ii) decrease, (iii) neither increase nor decrease the Inventory Turnover Ratio: (a) Sale of goods for Rs. 40,000 (Cost Rs. 32,000). (b) increase in the value of Closing Inventory by Rs. 40,000. (c) Goods purchased for Rs. 80,000. (d) Purchases Return Rs. 20,000. (e) goods costing Rs. 10,000 withdrawn for personal use. (f) Goods costing Rs. 20,000 distributed as free samples. August 13, 2022
Yogesh and Naresh are partners sharing profits in the ratio of 3 : 2. They admit Ramesh for 1/3rd share on 1st April, 2019 and also decide to share future profits equally. Balance Sheet of the firm as at 31st March, 2019 was as follows: August 2, 2022