WebCC contributes P70,000 to the partnership in order to have sufficient cash to pay partnership creditors. Requirements: 1. How much should each partner receive as a result of liquidation? AA BB CC Total Interest 90,000 (60,000) (100,000) (70,000) Investment of C 70,000 70, Balance 90,000 (60,000) (30,000) Additional Investment. 39,000 39, Web22 Dec 2016 · Financial statements and partners’ accounts could require the application of the relevant terms of the Partnership Act 1890 for partners operating without agreement. …
TS Grewal Accountancy Class 12 Solutions Chapter 1 Accounting …
WebLiquidating partnerships Prior to liquidating their partnership, Manning and Adamo had capital accounts of 240,000 and 150,000, respectively. Prior to liquidation, the partnership had no cash assets otherthan what was realized from the sale of assets. These partnership assets were sold for410,000. The partnership had 80,000 of liabilities. WebCBSE Class 12 Accountancy Important Questions Chapter 4 Admission of A Partner. Accounting For Partnership Firms : Admission of A Partner. 1 : (When new partner acquires his share from old partners in the old ratio). A and B are partners in a firm sharing profits and losses in the ratio 1:2. autonomia nissan xtrail
Partnership Accounting Sample Questions - StuDocu
WebDocument Description: Unit 3: Question & Answer - Admission of a New Partner for CA Foundation 2024 is part of Principles and Practice of Accounting preparation. The notes and questions for Unit 3: Question & Answer - Admission of a New Partner have been prepared according to the CA Foundation exam syllabus. Information about Unit 3: … WebCalculate new profit- sharing ratio after E’s admission. Solution: Question 13. A and B are in partnership sharing profits and losses as 3:2. C is admitted for 1/4th share. Afterwards D … WebAccounting for Partnerships ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Do It! Exercises. ... Accounting for Partnerships ASSIGNMENT CLASSIFICATION TABLE Study Objectives … autonomia nissan versa 1.6