The retiring partner is entitled to his share in firms Goodwill as he has also put in efforts in the formation of firm’s Goodwill. The retiring partner is paid back his share in the assets of the firm. Goodwill is also an asset for the firm. So retiring partner is paid his share from Goodwill […]
Goodwill Accounting on retirement of a partner Read More »
Description Gaining Ratio Sacrificing Ratio Formula for calculation New profit Sharing Ratio Less Old Profit Sharing ratio Old profit sharing Ratio Less New profit Sharing Ratio When calculated a) Retirement of a Partner b) Change in profit sharing ratio among existing partners a) Admission of a partner b) Change in profit sharing ratio among existing
Gaining Ratio and Sacrificing Ratio – Difference Read More »
Retirement of a partner is another form of reconstitution of the firm.. In this case, also, the old partnership agreement comes to an end and a new partnership agreement comes into effect.. A partner may retire from the firm due to any of the following reasons: Adjustments required on the retirement of a partner Liabilities
Retirement of a Partner – Meaning and Effects Read More »
The measurements of money supply can be classified into Broad money supply and Narrow money supply. But to understand this first we have to understand the meaning of liquidity of money Liquidity of Money Liquidity refers to the efficiency or ease with which an asset or security can be converted into ready cash without affecting its market price. The most
Broad money supply and Narrow money supply concepts Read More »
There are two different concepts. First is stock of money and second is supply of money. And both are very much different. Lets first understand the stock of money. Stock of money includes the amount of money held by a) consumers of money i.e. people of the country and b) Suppliers/Producers of money i.e. Government
Money was not always the same as we see it today. It has taken many years of innovations to reach the present form of money. Here is a brief overview of the main stages of money development:
Evolution of Money Read More »
The barter system is a system of exchange where goods and services are traded directly without the use of money. It is an ancient form of trade that was used before money was invented. However, the barter system has several limitations that make it inefficient and impractical in the modern economy. Some of these limitations
Barter System Meaning and its limitations Read More »
For English Users Hello! Explore the helpful solutions for Accounts Class 12 focusing on Admission of a Partner. Here you’ll find clear explanations and answers to questions 81 to 86 .The solutions are aligning with the CBSE/ICSE/State Boards curriculum for 2023-2024. Whether you’re student or a teacher, these solutions are here to assist you. Go
T S Grewal Solutions – 2023-2024 – Admission of a Partner – Q No 81 to 86 Read More »
For English Users Hello! Explore the helpful solutions for Accounts Class 12 focusing on Admission of a Partner. Here you’ll find clear explanations and answers to questions 71 to 80 .The solutions are aligning with the CBSE/ICSE/State Boards curriculum for 2023-2024. Whether you’re student or a teacher, these solutions are here to assist you. Go
T S Grewal Solutions – 2023-2024 – Admission of a Partner – Q No 71 to 80 Read More »
For English Users Hello! Explore the helpful solutions for Accounts Class 12 focusing on Admission of a Partner. Here you’ll find clear explanations and answers to questions 61 to 70 .The solutions are aligning with the CBSE/ICSE/State Boards curriculum for 2023-2024. Whether you’re student or a teacher, these solutions are here to assist you. Go
T S Grewal Solutions – 2023-2024 – Admission of a Partner – Q No 61 to 70 Read More »
