Dissolution of a firm a means putting an and to the partnership i.e., closing down the firm as a whole.
-Answered by Shruti Srivastva On 29 August 2020:05:40:00 PM
Question 1. Asked on :17 August 2020:10:31:52 AM
What is Dissolution of a firm?
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
-Answered by Shruti Srivastva On 29 August 2020:05:40:00 PM
Question 2. Asked on :17 August 2020:10:28:24 AM
What is admission of a partner?
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
-Answered by Shruti Srivastva On 29 August 2020:05:41:12 PM
Question 3. Asked on :17 August 2020:10:25:51 AM
Write the name of methods of calculation of goodwill?
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
(ii) Super profit method
-Answered by Shruti Srivastva On 17 August 2020:05:11:47 PM
Question 4. Asked on :17 August 2020:10:22:08 AM
Write the factors affecting goodwill of a firm?
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
2. Quality of goods sold/ services given
3. Reputation of owners of the firm
4. Risk involved in business
5. Trends of profits etc.
-Answered by nisha sheikh On 17 August 2020:10:23:30 AM
Question 5. Asked on :17 August 2020:10:14:30 AM
Write the need for valuation of goodwill?
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
1. On admission of new partner.
2. On retirement or death of a partner.
3. When there is a change in profit sharing ratio.
4. When the business is sold.
5. When a firm is amalgamated with another firm.
-Answered by nisha sheikh On 17 August 2020:10:18:18 AM
Question 6. Asked on :17 August 2020:10:09:48 AM
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
1. It is an intangible asset.
2. The value of Goodwill fluctuates from time to time.
3. It is a valuable asset and placed on the asset side of Balance sheet.
-Answered by nisha sheikh On 17 August 2020:10:11:06 AM
Question 7. Asked on :17 August 2020:10:02:13 AM
What do you mean by goodwill?
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
-Answered by Shruti Srivastva On 29 August 2020:05:42:07 PM
Question 8. Asked on :17 August 2020:09:57:22 AM
Write the name of partnership accounts.
-Added by nisha sheikh Accountancy » Partnership Accounts
Answer:
Partnership Accounts:
1. Partner's capital accounts
2. Partner's loan account
3. Profit and loss appropriation
-Answered by nisha sheikh On 17 August 2020:09:59:50 AM
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