On dissolution of a firm, amount realised from an unrecorded asset is credited to :-
(A) Partners capital A/C
(B) Cash A/C
(C) Realisation A/C
(D) Revaluation A/C
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Profit on sale of the asset is credited to an asset account.
Profit on sale of the asset is debited to an asset account.
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pratibha partner of a firm has advanced loan to the firm of Rs, 1,00,000 the firm does not have a paranership Deed will pratibha get interest on the i
Yes, In the absence of Partnership Deed, a partner receive interest on loan @ 6% p.a.
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‘Complete the following statement’ When a liability is discharged by a partner, at the time of dissolution, Capital Account is credited because ______
because the claim of the partner against the firm is increased by the amount of liability assumed.
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From the following data, calcualte value added by firm X and by firm Y: (i) Closing stock of firm X 20 (ii) Closing stock of firm Y 15 (iii) Opening s
VA by X=v+i-iv-vi-ix =300+20-5-100-50 =rs 165 lakh V.A. by `Y=viii+ii-iii-vii` `=250+15-10-80` =rs 175lakh
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Calculate value-added by firms A and B from the following data: (i) Purchases by firm B from firm A 40 ) Sales by firm B 80 (iii) Imports by firm B 10
V.A. by `A=i+viii-ix-vii` `=40+20-10-20` =rs 30 lakh V.A. by `B=ii+vi-v-i-iii` =`80+20-15-40-10` =rs 35lakh
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From the following data, find out value added by firm X: (i) Sales by firm Y to firm X 400 (ii) Sales by firm X to households 500 (iii) Purchases by f
`GVA_(mp)` by X=(ii+iii)+(v-iv)-(i) `=(500+300)+(75-25)-400` =rs 450lakh.
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On reconstitution of partnership firm, recording of an unrecorded liability will result in -
Correct option is: (B) Loss to the existing partners
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Goodwill is - (A) Tangible asset (B) Intangible asset (C) Current asset (D) None of these
Correct option is: (B) Intangible asset
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Discount on issue of debentures is :- (A) Fixed Asset (B) Current Asset (C) Real Asset (D) Fictitious Asset
Correct option is: (D) Fictitious Asset
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Depreciation = cost of Asset (-)........./Estimatedlif of Asset
Correct option is (b) Scrap value
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