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Riya Verma
Subject: Accountancy, asked on 6/1/18
Goodwill is something which is calculated on the basis of the past efforts of the old partners then why we are including capital of new partner in the net worth while calculating hidden goodwill of the firm?
Riya Verma
Subject: Accountancy, asked on 6/1/18
If the total capital of the firm is ascertained by multiplying the profit share of new partner with his capital then does the capital obtained include the capital contributed by old partners only or it include the capital of new partner as well?
Riya Verma
Subject: Accountancy, asked on 6/1/18
What is meant by capitalised value of the firm?
Riya Verma
Subject: Accountancy, asked on 5/1/18
Why goodwill brought in by the new partner is distributed in the sacrificing ratio but not in the new ratio?
Riya Verma
Subject: Accountancy, asked on 5/1/18
If partner brings goodwill in the form of asset and it is distributed in the partners capital a/c then will that asset appear in the balance sheet as we are not writting off the asset a/c?
Riya Verma
Subject: Accountancy, asked on 5/1/18
If the question is asking to prepare b/s and partners capital a/c at the time of reconstitution, and WCF given is less than the claim then can we directly show this effect on partners capital account as revaluation loss? As question is not asking for revaluation a/c. If not then explain
Riya Verma
Subject: Accountancy, asked on 5/1/18
Can the partners decide to distribute the entire goodwill amount everytime during the reconstitution and generating new goodwill thereafter instead of compensating money to the sacrificing partner by the gaining partner?
Riya Verma
Subject: Accountancy, asked on 4/1/18
partners capital account is debited when goowill is written off does it means that we are ultimately charging the amount of goodwill purchased from the partners capital accounts? But at the same time it is the asset belongs to the firm . Explain
Riya Verma
Subject: Accountancy, asked on 4/1/18
Why advertisement suspense a/c is debited to partners capital account at the time of reconstitution?
Riya Verma
Subject: Accountancy, asked on 2/1/18
What will be the treatment of prepaid expenses in the balance sheet at the time of reconstitution between existing partners?
Riya Verma
Subject: Accountancy, asked on 2/1/18
Why p+l suspense a+c is debited to partners capital account at the time of reconstitution?
Riya Verma
Subject: Accountancy, asked on 2/1/18
Why partners capital account is debited when goowill is written off ? As goodwill taken over as an asset will not benefit the partners in any form of cash like other assets and this ultimately reduces the liability of the firm.explain
Riya Verma
Subject: Accountancy, asked on 2/1/18
Why does debit balance of p+l a+c is considered as an asset in the balance sheet
Riya Verma
Subject: Accountancy, asked on 2/1/18
If there is claim against WCF then we show reserve maintained by the company in the balance sheet or claim against it during normal course of business but not at the time of reconstitution ?
Riya Verma
Subject: Accountancy, asked on 2/1/18