Retirement or D...

Why executor’s account is prepared

Preliminary expenses given in the Asset side of Balance sheet will be:

Anu, Rohit and Chandan are partners carrying on an illegal business without forming a partnership deed.Chandan Wants to retire but Anu and Rohit are not willing to give his share. Their profit sharing ratio is 3:2:1. Identify the values which should have been incorporated while formulating partnership.

Reason for preparing Profit and Loss suspense Account is to ___________

Which of the following is not a temporary account?

A, M and B are partners in a firm sharing profit and losse in the ratio of 3:2:2 B has desired to retire from the firm and desires his son should be admitted as partner in his place. The partnership deed is silent A and M agrees to the change and sharing profit and loss in the same ratio. Do you think the change will be as per the law and why?

_______ can be calculated on the basis of time and sales.

S, R and T are partners in a firm sharing profits in the ratio 3:2:1.Goodwill has been valued at ₹60000 on R’s retirement S and T decided to share profit and losses equally .What should the amount of R’s share of goodwill