Pass the journal entries in the following cases: 1)An recorded asset of Rs 4000 and cash Rs 6000 was paid to an unrecorded liability of Rs 12,000 in full settlement. 2)Creditors agreed to take over debtors in fullsettlement of their claim.(Book Values given in B/S just before dissolution: Creditors=Rs 1,00,000;Debtors=Rs 90,000)
recorded by the partnership at their fair market value. 7. L. Hill invests the following assets in a new partnership: $15,000 in cash, and equipment that cost $30,000 but has a book value of ...
Choosing a structure for your business can be a confusing jumble of legalese. But with this basic guide, you'll be able to select the structure that suits your business best.
Jul 22, 2013 · 16. The notice of the dissolution of the firm in the prescribed form will be given by the Party of the Third Part within prescribed time as required by the Partnership Act and Rules made thereunder and the Party of the Third Part will publish the dissolution in the Government Gazette as early as possible. 17.
Split level addition before and after
• Marital dissolution • Insurance coverage • Capital buy-in of a new owner • Capital buy-out of a withdrawing owner • Dissolution of a firm • Merger or acquisition The exercise of valuing a law firm is more art than science, and universally accepted a approach to law firm valuation does not exist.
(2) Accounting firm means an organization (whether it is a sole proprietorship, incorporated association, partnership, corporation, limited liability company, limited liability partnership, or other legal entity) that is engaged in the practice of public accounting and furnishes reports or other documents filed with the Commission or otherwise ...