What is meant by “Unlimited Liability of a Partner”? Post category:Accountancy Reading time:1 mins read SOLUTION The personal assets of the partner can be utilized for paying firm’s debts. 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 PostSix friends started a partnership business by investing Rs. 2.00,000 each. They decided to share profit equally. Name the terms by which they will be called individually and collectively. Next PostThe business of a partnership firm may be carried on by all the partners or any one of them acting for all. One of the important implications of this statement is that every partner is entitled to participate in the conduct of the affairs of its business. State the second important implication of this statement. (C.B.S.E. 2020. Kerala) You Might Also Like On dissolution of a firm, there was an Unrecorded asset or Rs. 2,000 which was taken over by a partner at Rs. 2,500 What entry will be passed? September 27, 2022 If a fixed amount is withdrawn on the last day of every quarter, for what period the interest on total drawings will be calculated? September 26, 2022 150 shares of Rs. 10 each issued at a premium of Rs. 4 per share payable with allotment were forfeited for non-payment of allotment money of Rs. 8 per share including premium. The first and final call of Rs. 4 per Pass Journal entries in the books of X Ltd. for the above. July 15, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
On dissolution of a firm, there was an Unrecorded asset or Rs. 2,000 which was taken over by a partner at Rs. 2,500 What entry will be passed? September 27, 2022
If a fixed amount is withdrawn on the last day of every quarter, for what period the interest on total drawings will be calculated? September 26, 2022
150 shares of Rs. 10 each issued at a premium of Rs. 4 per share payable with allotment were forfeited for non-payment of allotment money of Rs. 8 per share including premium. The first and final call of Rs. 4 per Pass Journal entries in the books of X Ltd. for the above. July 15, 2022