Balance of share forfeiture account is shown in the balance sheet under the sub-head-

Sindhu, Neha and Priya are partners, sharing profits in the ratio of 5:3:2. Calculate the new profit sharing ratio and gaining ratio if Neha retires:

Under the fixed capital method, the capital of the partners shall remain fixed unless additional capital is introduced or a part of the capital is withdrawn as per the agreement between the partners. Which among the following is NOT the feature of the fixed capital method?

Which of the following statements results in the reconstitution of a partnership firm :- (A) Change in profit sharing ratio among partners. (B) Admission of a new partner. (C) Dissolution of a partnership firm. (D) Dissolution of a partnership. Choose the correct answer from the…

Match List-I with List-II List-I | List-II (A) Unregistered Debentures | (I) Perpetual Debentures (B) Unsecured Debentures | (II) Naked Debentures (C) Secured Debentures | (III) Bearer Debentures (D) Irredeemable Debentures | (IV) Mortgage Debentures Choose the correct answer fro…

Which of the following is not a method of valuation of goodwill?

As per Section 48 of the Partnership Act 1932, which of the following will be utilized for payment of losses, including deficiencies of capital: (A) Out of Profits (B) Out of capital of Partners (C) By partners individually in their profit sharing ratio (D) Creditors Assets Choos…

A correct journal entry for Transfer of the balance of Profit and Loss Account (a credit balance) to Profit and Loss Appropriation Account is-

The Profit on reissue of forfeited shares is transferred to-