5)Hello brother, please help me. Answer all the questions. I do not have many chance. I will not forget your favor. Please write only question number and answer code.
corporate Accounting 1
Question 21 Not yet answered Marked out of 1 P Flag question At the time of dissolution of firm, at what stage the balances of partner's capital accounts are paid? O a. After payment of outsider's liabilities O b. Before payment of loan by partner O c. Before payment of outside liabilities O d. After payment of outsider's liabilities and partners' loan Question 22 Not yet answered Marked out of 1 P Flag question If, at the time of admission, profit and loss account balance appears in the books, it will be transferred to: O a. Profit & Loss Adjustment account o b. All partners' capital accounts O c. Old partners' capital accounts O d. Revaluation account Question 23 ime left 2:49:14 Question 23 Not yet answered Marked out of 1 P Flag question On the retirement of Ajmal, from the firm of Ajmal, Koofan & Bilal, the Balance sheet showed a debit balance of OMR 12,000 in the profit & loss account. For calculating the amount payable to Ajmal, this balance will be transferred to: a. The credit of the capital accounts of koofan & Bilal equally o b. The debit of the capital accounts of Ajmal, Koofan & Bilal equally O c. The debit of the capital accounts of Koofan & Bilal equally d. The credit of the capital accounts of Ajmal, Koofan & Bilal equally Question 24 Not yet answered Marked out of 1 P Flag question Which of the following is False about a partnership business? a. Partnerships pay income taxes ob. A partnership is a voluntary association O c. Partners in general partnerships have unlimited liability O d. Partnerships have limited life Question 25 Question 25 Not yet answered Marked out of 1 Flag question How goodwill is recorded on the retirement of a partner? oa. Dr. Goodwill account & Cr. All partner's capital a/c (in old ratio) ob. Dr. Remaining partner's capital a/c (In gaining ratio) & Cr. Retiring partner's capital a/c (with his share of goodwill) oc. Dr. Remaining partner's capital a/c (in new ratio) & Cr. Retiring partner's capital a/c( with his share of goodwill) o d. Dr. Goodwill a/c & Cr. Retiring partner's capital a/c (with his share)
