What is the status of partnership firm from an accounting viewpoint? Post category:Accountancy Reading time:1 mins read SOLUTION From an accounting view point, partnership firm is a separate business entity from the partners. 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 PostDoes partnership firm has a separate legal entity? Give reason in support of your answer. (Delhi 2017) Next PostGive the meaning of ‘Liability of Partners’ as a feature of partnership. (C.B.S.E 2020) You Might Also Like A, B and C who are presently sharing profits and losses in the ratio of 5: 3: 2 decide to share future profits and losses in the ratio of 2: 3: 5. Give the journal entry to distribute ‘Investments Fluctuation Reserve’ of Rs. 20,000 at the time of change in profit-sharing ratio, when investment (market value Rs. 95,000) appears in the books at Rs. 1,00,000. October 28, 2022 Following is the Balance Sheet of X and Y as at 31st March, 2019. Z is admitted as a partner on that date when the position of X and Y was: August 2, 2022 Mention two items that may appear on the debit side of a Partner’s Fixed Capital Account. September 23, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C who are presently sharing profits and losses in the ratio of 5: 3: 2 decide to share future profits and losses in the ratio of 2: 3: 5. Give the journal entry to distribute ‘Investments Fluctuation Reserve’ of Rs. 20,000 at the time of change in profit-sharing ratio, when investment (market value Rs. 95,000) appears in the books at Rs. 1,00,000. October 28, 2022
Following is the Balance Sheet of X and Y as at 31st March, 2019. Z is admitted as a partner on that date when the position of X and Y was: August 2, 2022
Mention two items that may appear on the debit side of a Partner’s Fixed Capital Account. September 23, 2022