Name any two sub-line items (sub-headings) under which “Shareholder’s Funds” shall be classified in a Company’s Balance Sheet. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Share Capital; (ii) Reserve and Surplus. 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 PostName any one line item that can be shown under the major heading “Assets” in a Company’s Balance Sheet. Next PostName any two sub-line items (sub-headings) under which “Non-Current Liabilities” shall be classified in a Company’s Balance Sheet. You Might Also Like Nirmal and Pawan are partners sharing profits in the ratio of 3: 2. The firm had given loan to Pawan of Rs. 5,00,000 on 1st April, 2021. Interest was to be charged @ 10% p.a. The firm took loan of Rs. 2,00,000 from Nirmal on 1st October, 2021. Before giving effect to the above, the firm incurred a loss of Rs. 10,000 for the year ended 31st March, 2022. Determine the amount to be transferred to Profit and Loss Appropriation Account. October 11, 2022 X and Y were partners sharing profits and losses in the ratio of 3 : 2. They decided to dissolve the firm on 31st March, 2019. On that date, their Capitals were X − Rs. 40,000 and Y− Rs. 30,000. Creditors amounted to Rs. 24,000. Assets were realised for Rs. 88,500. Creditors of Rs. 16,000 were taken over by X at Rs. 14,000. Remaining Creditors were paid at Rs. 7,500. The cost of realisation came to Rs. 500. Prepare necessary accounts. July 26, 2022 How is dissolution of partnership different from dissolution of partnership firm? (C.B.S.E. Sample Paper, 2018) September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Nirmal and Pawan are partners sharing profits in the ratio of 3: 2. The firm had given loan to Pawan of Rs. 5,00,000 on 1st April, 2021. Interest was to be charged @ 10% p.a. The firm took loan of Rs. 2,00,000 from Nirmal on 1st October, 2021. Before giving effect to the above, the firm incurred a loss of Rs. 10,000 for the year ended 31st March, 2022. Determine the amount to be transferred to Profit and Loss Appropriation Account. October 11, 2022
X and Y were partners sharing profits and losses in the ratio of 3 : 2. They decided to dissolve the firm on 31st March, 2019. On that date, their Capitals were X − Rs. 40,000 and Y− Rs. 30,000. Creditors amounted to Rs. 24,000. Assets were realised for Rs. 88,500. Creditors of Rs. 16,000 were taken over by X at Rs. 14,000. Remaining Creditors were paid at Rs. 7,500. The cost of realisation came to Rs. 500. Prepare necessary accounts. July 26, 2022
How is dissolution of partnership different from dissolution of partnership firm? (C.B.S.E. Sample Paper, 2018) September 27, 2022