Over-Subscription of Shares
Subscription of shares can be more than the number of shares offered or less than that…
Accounting for Share Capital
Accounting for Share Capital
Issue of Shares at Premium
When company issues shares for a price that is more than its face value, shares…
Accounting for Share Capital
Forfeiture and Re-issue of Forfeited Shares
Forfeiture means cancellation of shares due to non-payment of allotment money …
Accounting for Share Capital
Shares Issued to Vendor and Buy-Back
Sometimes, company purchases assets and makes the payment to the vendor…
Retirement of Partner
Accumulated Profits on Retirement and Death of Partner
Accumulated Profits, Reserves and Specific Funds and accumulated losses must be shared…
Retirement of Partner
Payment to Retiring Partner
Payment to Retiring Partner can be made in any of the four methods mentioned here.
Dissolution of Partnership Firm
Dissolution of Partnership Firm
The main condition of preparing realization account is the availability of complete Balance sheet of the firm.
Dissolution of Partnership Firm
Accounts Relating to Dissolution of Firm
Necessary ledger accounts to be prepared on Dissolution of firm includes Realization account…
Retirement of Partner
Adjustment of Partners’ Capitals on Retirement
Adjust the surplus/deficiency through cash or partner’s current account as per the instruction…
Retirement of Partner
Capital Accounts of Partners on Retirement
Partners’ Capital accounts can be fixed or fluctuating depending on the question.