Jain, Sharma and Verma were partners in a firm sharing profits in the ratio of 1 : 2 : 1. On 31st March, 2018 their firm was dissolved
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Give Journal entries in each of the following alternative cases on the dissolution of a firm Realisation expenses paid by X on behalf of the firm
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A, B and C are partners sharing profits and losses in the ratio of 4 : 2 : 1. On 31st March, 2024, their Balance Sheet was as follows:
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A, B and C were partners in a firm sharing profits & losses in the ratio of 2 : 2 : 1. The Balance Sheet of the firm at the date of dissolution was as follows:
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P, Q and R were partners in a firm sharing profits in the ratio of 1 : 2 : 2. Their Balance Sheet as at 31st March, 2024 was as follows:
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Following is the balance sheet of P, Q and R who were sharing profits and losses in the ratio of 3 : 2 : 1
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X, Y and Z were in partnership sharing profits and losses in the ratio of 7 : 2 : 1 and the Balance Sheet of the firm stood on 31st March, 2024, as under
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A, B and C sharing profits in the proportion of 3 : 2 : 1 agreed upon dissolution of their partnership firm on 31st March, 2024 on which date their balance sheet was as under:
Solution:- Notes:- (1) C’s Current A/c appears on the assets side, which means that is has a debit balance. As such, it will be transferred to the Debit Side of C’s Capital Account. (2) Accrued income will not be realised.
Following is the Balance Sheet of Deepak and Jyoti, who were sharing profit and losses in the ratio of 3 : 2, as at March 31, 2024
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X, Y and Z entered into partnership on 1st October 2021 sharing profits and losses in the proportions of 4 : 3 : 2, respectively, and with capitals of ₹ 30,000, ₹ 20,000 and ₹ 10,000
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