What is meant by ‘Reconstitution of a Partnership Firm’? (Delhi and Al 2014) Post category:Accountancy Reading time:1 mins read SOLUTION Reconstitution of a partnership firm means change in economic relationship among partners. For example,change in profit-sharing ratio or retirement of a partner. 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 PostNusrat and Sonu were partners in a firm sharing profits in the ratio of 3: 2. During the year ended 31st March, 2015 Nusrat had withdrawn Rs. 15,000. Interest on her drawings amounted to Rs. 300. Pass necessary Journal entry for charging interest on drawings assuming that the capitals of the partners were fixed. (Delhi 2016) Next PostDoes the change in profit-sharing ratio result into dissolution of the partnership firm? Give reason in support of your answer. (AI 2017 C) You Might Also Like Name any two sub-line items (sub-headings) under which “Current Assets’’ shall be classified in the Balance Sheet of a Company. September 30, 2022 From the following information, calculate Liquid Ratio: August 12, 2022 Current Liabilities of a company are Rs. 1,50,000. Its Current Ratio is 3 : 1 and Acid Test Ratio (Liquid Ratio) is 1 : 1. Calculate values of Current Assets, Liquid Assets and Inventory. August 12, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Name any two sub-line items (sub-headings) under which “Current Assets’’ shall be classified in the Balance Sheet of a Company. September 30, 2022
Current Liabilities of a company are Rs. 1,50,000. Its Current Ratio is 3 : 1 and Acid Test Ratio (Liquid Ratio) is 1 : 1. Calculate values of Current Assets, Liquid Assets and Inventory. August 12, 2022