C, D and E were partners in a firm sharing profits in the ratio of 3 : 1 : 1. Their Balance Sheet as at 31st March, 2022 was as follows
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Pass necessary Journal entries for the following transactions, on the dissolution of a partnership firm of Kavita and Suman on 31st March, 2022, after the various assets (other than cash) and third party liabilities have been transferred to Realisation Account
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Trisha, Anisha and Rishika were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance sheet as at 31s March
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Ramesh, Suresh and Dinesh were partners sharing profits and losses in the ratio of 3 : 2 : 1. Dinesh died on 1st May, 2023 on which date the capitals of Ramesh
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Shweta, Meenu and Asha were partners in a firm sharing profits and losses in the ratio of 3 : 5 : 2. Meenu retired on 1st April, 2022. After making all adjustments relating to revaluation, goodwill and accumulated profits
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Ashish and Vishesh were partners sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2022 was as under:
Solution:- Important Points:- I) In the absence of any further information, sacrificing ratio is always equal to the old ratio of the partners. ii) In the absence of any further information, revaluation loss is debited to the old partners in…
Vanshika and Shikha were partners in a firm with capitals of ₹ 1,00,000 and ₹ 80,000 respectively. They admitted Nisha on 1st April, 2022 as a new partner for 1/4th share in the future profits of the firm
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Mahesh and Suresh were partners in a firm sharing profits and losses in the ratio of 2 : 1. They decided to admit Nita into partnership with 1/4th share in the profits
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Aayush and Aarushi are partners sharing profits and losses in the ratio of 3 : 2. They admitted Naveen into partnership for 1/4th share
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Prepare accounting equation from the following. Started business with cash ₹ 40,000, Goods ₹ 50,000 and furniture ₹ 75,000
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