Why is it important, to have a partnership deed in writing? Post category:Accountancy Reading time:1 mins read SOLUTION It is important to have a partnership deed in writing because it contains terms and conditions agreed upon by all the partners and is helpful in avoiding all misunderstandings and disputes. 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 PostIs it necessary to have a partnership agreement in writing? Next PostWhat share of profits would a ‘sleeping partner’ who has contributed 75% of the Total Capital get in the absence of a deed? You Might Also Like Current Ratio 4; Liquid Ratio 2.5; Inventory Rs. 6,00,000. Calculate Current Liabilities, Current Assets and Liquid Assets. August 12, 2022 Show how the following will be recorded in the Capital Accounts of the Partners Sohan and Mohan when their capitals are fluctuating: July 21, 2022 Book Value of assets (other than cash and bank) transferred to Realisation Account is Rs. 1,00,000. 50% of the assets are taken over by a partner Atul, at a discount of 20%; 40% of the remaining assets are sold at a profit of 30% on cost; 5% of the balance being obsolete, realised nothing and remaining assets are handed over to a Creditor, in full settlement of his claim. You are required to record the Journal entries for realisation of assets. July 25, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Current Ratio 4; Liquid Ratio 2.5; Inventory Rs. 6,00,000. Calculate Current Liabilities, Current Assets and Liquid Assets. August 12, 2022
Show how the following will be recorded in the Capital Accounts of the Partners Sohan and Mohan when their capitals are fluctuating: July 21, 2022
Book Value of assets (other than cash and bank) transferred to Realisation Account is Rs. 1,00,000. 50% of the assets are taken over by a partner Atul, at a discount of 20%; 40% of the remaining assets are sold at a profit of 30% on cost; 5% of the balance being obsolete, realised nothing and remaining assets are handed over to a Creditor, in full settlement of his claim. You are required to record the Journal entries for realisation of assets. July 25, 2022