Since the realisation expenses of Rs. 10,000 are borne personally by Rohit, the firm does not reimburse him. Only the agreed remuneration of Rs. 12,000 is credited to his Capital A/c as a charge for services rendered.
Rohit a partner paid the realisation expenses of Rs. 10,000 and he was to get a remuneration of Rs. 12,000 for completing the dissolution process and realisation expenses were borne by Rohit. The amount transferred to his capital A/c will be :
Held on 28 May 2023 · Verified 13 Jul 2026.
Rs. 12,000
Rs. 10,000
Rs. 22,000
Rs. 2,000
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.