Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
9)Hello brother, please help me .answer all questions.I will not forget your favour .please write the question number and answer code. Corporate accounting 1 Question
9)Hello brother, please help me .answer all questions.I will not forget your favour .please write the question number and answer code.
Corporate accounting 1
Question 41 Not yet answered Marked out of 1 P Flag question Goodwill of a firm of A and B is valued at OMR 30,000.Goodwill is appearing in the books at OMR 12,000.C is admitted for 1/4th share. What amount he is supposed to bring for goodwill? O A. OMR 7,500 O b. OMR 10,500 O c. OMR 4,500 O d. OMR 3,000 Question 42 Not yet answered Marked out of 1 P Flag question Balance sheet prepared after new partnership agreement, assets and liabilities are recorded at: O a. Original value b. None of the options O c. At realizable value O d. Revalued figure Question 43 Not yet answered Marked out of 1 P Flag question For the firm interest on drawing is: a. Gain O b. Loss C. None of these options O d. Expense Time left 2:40:45 Question 44 Not yet answered Marked out of Flog question Compute Realization profit/loss of partners Ahmed and Jaleel sharing in the ratio of 3:2. On December 31" they decided to dissolve their firm. Liabilities AmountAssetsAmount Sundry 20,000 Cash 40,000 creditor Capital Stock 50,000 Account: Ahmed 60,000 other 40,000 assets Jaleel 60,000 140,000 140,000 Merchandise Inventory was sold for OMR 70,000 and other assets were realized for OMR 20,000. Liabilities was pald and remaining cash was paid to the partners. a Realization Profit OMR 10,000 b. No Loss on realization o c. Realization Loss OMR 10,000 od No Profit on realization Question 45 Not yet answered Marked out of 1 P Flag question The legal representatives of the deceased partner are entitled to receive: O a. Share of goodwill of the firm b. None of these are correct O c. Agreement at the time of joining O d. Notice to discontinue the firm nuention 16
9)Hello brother, please help me .answer all questions.I will not forget your favour .please write the question number and answer code.
Corporate accounting 1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started