Accounting for ...

At the time of dissolution, which payment will be made in priority ?

All the agreements are contracts _____________.

Under fixed capital methods, profit will be credited to:

Which of the following are included in a partnership deed?

__________ constitutes as an evidence of agreement.

It is UNCOMMON in a partnership firm.

Which of the following would not be found in a partnership appropriation account?

If partners maintain both fixed capital and current accounts, which of the following would normally be credited to a partner's fixed capital account?

A new agreement of a partnership firm to replace the old one is formed only in following conditions_______.

Amit and Varun are partners with capital balances of Rs. 60,000 and Rs. 20,000, respectively. Profits and losses are divided in the ratio of 60:40. Amit and Varun decided to form a new partnership with Amit, who invested land valued at Rs. 15,000 for a 20% capital interest in the new partnership. Amit's cost of the land was Rs. 12,000. The partnership elected to use the bonus method to record the admission of Amit into the partnership. Amit's capital account should be credited for________.