Tag: dissolution of firm
Questions Related to dissolution of firm
Non-registration of firm does not effect :
A and B were partners in a joint venture sharing profits and losses in the proportion of 4/5th and 1/5th respectively. A supplies goods to the value of 50,000 and incurs expenses amounting to 5,400. B supplies goods to the value of 14,000 and his expenses amount to 800, B sells goods at 87,400. B settles his account by bank draft. What will be the profit on venture?
It is uncommon to find for realization account :
Dissolution of partnership means :
If a partner cannot clear his debts on dissolution, the other partners must clear these debts in the following manner:
Garner Vs Murray requires _________.
When balance sheet prepared after the new partnership assets and liabilities are recorded at :
Where the continuing partners carry on the business of the firm, the dead partner whose claim is not settles, his executor -
X. is entitled to share of profits since date of cessation as partner.
Y. is not entitled to claim anything other than unsettled amount.
Z. is entitled to $6\%$ interest p.a on the unsettled amount.
Select the correct answer from the options given below.
In which of the following case Garner v Murray rule is NOT applicable?
1. Only one partner is solvent.
2. All partners are insolvent.
3. When partnership deed provides a specific method to be followed in case of insolvency of a partner
Select the correct answer from the options given below-
The amount due to the retiring partner can be made by ________.