On dissolution of a firm, its Balance Sheet revealed total creditors Rs. 50,000; Total Capital Rs. 48,000; Cash Balance Rs. 3,000. Its assets were realised at 12% less. What will be loss on realisation? Post category:Accountancy Reading time:1 mins read SOLUTION Rs. 11 ,400 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 PostOn dissolution of the firm, partner A demands that his loan of Rs. 1,00,000 should be paid before, payment of Capitals of the partners, whereas partners B and C demand that Capitals should be paid before the payment of A’ s loan. State the order of payment. Next PostOn dissolution of a firm, Sundry Creditors amounted to Rs. 8,000. These were paid at a discount of 5%. What entry will he passed? You Might Also Like In case the partners’ capitals are fixed, in which account withdrawal of capital is recorded? (C.B.S.E. 2020) October 7, 2022 What is the difference between ‘Operating Profit’ and ‘Net Profit’? October 3, 2022 P, Q and R were partners in a firm sharing profits in the ratio of 5: 4: 3 respectively. Their capitals were Rs. 50.000. Rs. 40.000 and Rs. 30,000 respectively. Slate the ratio in which the goodwill of the Firm, amounting to Rs. 6,00,000. Will be adjusted in the capital accounts of the remaining partners on the retirement of Q. September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
In case the partners’ capitals are fixed, in which account withdrawal of capital is recorded? (C.B.S.E. 2020) October 7, 2022
P, Q and R were partners in a firm sharing profits in the ratio of 5: 4: 3 respectively. Their capitals were Rs. 50.000. Rs. 40.000 and Rs. 30,000 respectively. Slate the ratio in which the goodwill of the Firm, amounting to Rs. 6,00,000. Will be adjusted in the capital accounts of the remaining partners on the retirement of Q. September 27, 2022