On firm’s dissolution, which account should he prepared at the last? Post category:Accountancy Reading time:1 mins read SOLUTION Cash / Bank Account. 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 PostHow will the Realisation Account closed, if it discloses a loss? Next PostOn firm’s dissolution, what entry will be made on realisation of goodwill which was shown in Balance Sheet? You Might Also Like Reliance Ltd. purchased machinery costing Rs. 1,35,000. It was agreed that the purchase consideration be paid by issuing 9% Debentures of Rs. 100 each. Assume debentures have been issued (i) at par and (ii)at a discount of 10%. Give necessary journal entries. July 16, 2022 ‘Sangam Woollens Ltd.’, Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to 10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from these villages in its newly established factory. The company issued 40,000 Equity Shares of Rs. 10 each and 1,000, 9% Debentures of Rs. 100 each to the vendor for the purchase of machinery of Rs. 5,00,000. Pass necessary Journal entries. July 18, 2022 Ashok, Bhim and Chetan who are sharing profits in the ratio of 5: 3: 2, decide to share profits in the ratio of 2: 3: 5 with effect from 1st April, 2022. Workmen Compensation Reserve appears at Rs. 1,20,000 in the Balance Sheet as at 31st March, 2022 and Workmen Compensation Claim is estimated at Rs. 1,50,000. Pass Journal entries for the accounting treatment of Workmen Compensation Reserve. October 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Reliance Ltd. purchased machinery costing Rs. 1,35,000. It was agreed that the purchase consideration be paid by issuing 9% Debentures of Rs. 100 each. Assume debentures have been issued (i) at par and (ii)at a discount of 10%. Give necessary journal entries. July 16, 2022
‘Sangam Woollens Ltd.’, Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to 10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from these villages in its newly established factory. The company issued 40,000 Equity Shares of Rs. 10 each and 1,000, 9% Debentures of Rs. 100 each to the vendor for the purchase of machinery of Rs. 5,00,000. Pass necessary Journal entries. July 18, 2022
Ashok, Bhim and Chetan who are sharing profits in the ratio of 5: 3: 2, decide to share profits in the ratio of 2: 3: 5 with effect from 1st April, 2022. Workmen Compensation Reserve appears at Rs. 1,20,000 in the Balance Sheet as at 31st March, 2022 and Workmen Compensation Claim is estimated at Rs. 1,50,000. Pass Journal entries for the accounting treatment of Workmen Compensation Reserve. October 28, 2022
