What are the other names of liquid ratio? Post category:Accountancy Reading time:1 mins read SOLUTION Quick ratio and acid test ratio. 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 PostWhat is the ideal Quick Ratio? Next PostWhat is meant by ‘Solvency of Business’? (C.B.S.E. 2016) You Might Also Like Give the formula for calculating ‘gaining share’ of a partner in a partnership firm. October 8, 2022 Karan and Varun were partners in a firm sharing profits and losses in the ratio of 1: 2. Their fixed capitals were Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st April, 2016 Kishore was admitted as a new partner for 1/4th share in the profits. Kishore brought Rs. 2,00,000 for his capital which was to be kept fixed like the capitals of Karan and Varun. Kishore acquired his share of profit from Varun only. Calculate goodwill of the firm on Kishore’s admission and the new profit-sharing ratio of Karan, Varun and Kishore. Also, pass necessary Journal Entry for the treatment of Goodwill on Kishore’s admission considering that Kishore did not bring his share of goodwill premium in Cash. October 21, 2022 X, Y and Z are partners in a firm in the ratio of 4: 3; 2. On firm’s dissolution, firm’s total assets are Rs. 70,000, creditors are Rs. 15,000. Realisation expenses are Rs. 2,100. Assets realised 15% more than the book-value. Creditors were paid 2% more. For profit / loss on realisation, y’s capital account will be debited / credited with how much amount? September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Karan and Varun were partners in a firm sharing profits and losses in the ratio of 1: 2. Their fixed capitals were Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st April, 2016 Kishore was admitted as a new partner for 1/4th share in the profits. Kishore brought Rs. 2,00,000 for his capital which was to be kept fixed like the capitals of Karan and Varun. Kishore acquired his share of profit from Varun only. Calculate goodwill of the firm on Kishore’s admission and the new profit-sharing ratio of Karan, Varun and Kishore. Also, pass necessary Journal Entry for the treatment of Goodwill on Kishore’s admission considering that Kishore did not bring his share of goodwill premium in Cash. October 21, 2022
X, Y and Z are partners in a firm in the ratio of 4: 3; 2. On firm’s dissolution, firm’s total assets are Rs. 70,000, creditors are Rs. 15,000. Realisation expenses are Rs. 2,100. Assets realised 15% more than the book-value. Creditors were paid 2% more. For profit / loss on realisation, y’s capital account will be debited / credited with how much amount? September 27, 2022
