Accounting for ...

In partnership form of business, the business must be carried by _____

XYZ are three partners sharing profit and loss in the ratio of 5:3:2. X retires and value of the goodwill of the firm is valued at Rs.100000. YZ decides to share profit and loss equally. What is the gaining ratio at the time of retirement of X?

XYZ associates purchased a new plant for Rs.500000 and spent Rs.40,000 on its erection and commissioning. However the amount of Rs.40,000 being erection commissioning expenses was debited to profit and loss A/c as a part of miscellaneous expenses. The plant is subject to depreciation at 15% p.a. What is the net effect of this transaction on profit and loss  of the firm?

The restriction on the maximum number of partners in a partnership firm are prescribed in _____

XYZ send goods worth Rs. 1,00,000 to Y on consignment basis at 20% above the cost price. The goods are sold by the consignee on a mark of 15% on invoice price. Find the total mark up % over the cost price of the goods ......

A notice to a partner is equivalent to notice to ______

XY are two partners in a firm having share cap of Rs. 10,000 and Rs. 15,000 respectively, admitted for 1 /3 share of profit for which he is to bring Rs. 15,000 for his share of capital. What is for goodwill of the firm.

ABC are three partners sharing profit and loss in the ratio of 2:2:1,B recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of Rs.60,000. Find the share of profit of C if the firm made a net profit of Rs.120,000 during 2008-09

A suit for dissolution of the firm on the ground of a partner becoming of unsound mind can be filed by________.

A second truck was purchased for Rs. 75,000, Rs. 10,000 was spent on its repair and 2000 to get the truck registered in the name of the firm and Rs. 1000 as dealers commission. The capitalized value of truck will be..........