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in ratio of their capital account

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Q: In case of amalgamation of partnership firms any profit and loss on revaluation is transferred to accounts in ratio?
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Related questions

When the firm sells the business as a going concern cash balance is transferred to?

The balance is transferred to prepare the Partner's Capital and Current Accounts.


If i have two YouTube accounts how can i make them a partnership?

I do not think you can. Sorry!


Can a partner freeze the bank accounts of a partnership firm?

yes


Is annual filing required?

A Partnership firm is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company. Limited Liability Partnership's and Company's are required to file their annual accounts with Registrar of Companies each year.


What has the author Russell Storm Mackay written?

Russell Storm Mackay has written: 'Partnership accounts' -- subject(s): Accounting, Partnership


What is difference between revaluation account and realization account?

Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.


What has the author R C De Zouche written?

R. C. De Zouche has written: 'Partnership accounts' -- subject(s): Accounting, Partnership


What is closing entry?

A closing entry is when data in the temporary accounts, is transferred to the permanent balance sheet, or to the income statement accounts.


How do you split a business partnership?

First of all, you register the Partnership Firm with Registrar of Partnership (under Indian Partnership Act, 1937) giving the particulars of Partners, their contribution to capital, their addresses etc, and register the 'Partnership Deed' and submit. Get the 'Certificate of Commencement of Business' and then purchase the business, which wants to split to partnership Sell all the legal accounts to Partnership firm and close down the sole trading concern/HUF


What happens to bank accounts after a spouse dies in Georgia?

Funds are transferred to the surviving spouse


What are the legal restrictions of starting a partnership firm?

A Partnership firm is not subject to excessive legal restrictions; therefore it enjoys freedom in administration. It is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company. It can be easily dissolved. Any partner can give 14 days' notice to other partners and dissolve the firm with the consent of other partners. There is no requirement for audit of the accounts of a partnership firm annually as a Partnership firm is not required to file audited financial statements with the Ministry of Corporate Affairs each year. However, tax audit may be required for a Partnership firm if the turnover exceeds prescribed limits.


What fund or group of accounts would premiums received on general obligation bonds transferred to?

Debt Service