-Determination of each partner's capital balance that is brought down for the purpose of adjustment
-Closure of all nominal accounts and the respective totals to transfer the profit and loss account
-Preparation of realisation account
-Treatment of payments made to creditors
-Distribution of gains and losses on realisation among the partners respective capital accounts
The final distribution of bank and cash balances among the partners
Wincate 1 answered the question on October 12, 2017 at 15:48
-
State the advantages of departmental accounting.
(Solved)
State the advantages of departmental accounting.
Date posted:
October 12, 2017
.
Answers (1)
-
Give the objectives of departmental accounting.
(Solved)
Give the objectives of departmental accounting.
Date posted:
October 12, 2017
.
Answers (1)
-
Define the term 'incomplete records'.
(Solved)
Define the term 'incomplete records'.
Date posted:
October 12, 2017
.
Answers (1)
-
Highlight the factors to consider when designing a capital reduction scheme.
(Solved)
Highlight the factors to consider when designing a capital reduction scheme.
Date posted:
October 12, 2017
.
Answers (1)
-
Highlight the circumstances under which capital reduction can occur in a company.
(Solved)
Highlight the circumstances under which capital reduction can occur in a company.
Date posted:
October 12, 2017
.
Answers (1)
-
What is meant by the term called up share capital?
(Solved)
What is meant by the term called up share capital?
Date posted:
October 12, 2017
.
Answers (1)
-
Differentiate between preference shares and ordinary shares.
(Solved)
Differentiate between preference shares and ordinary shares.
Date posted:
October 12, 2017
.
Answers (1)
-
Define the term shares.
(Solved)
Define the term shares.
Date posted:
October 12, 2017
.
Answers (1)
-
Outline the procedure of stores verification.
(Solved)
Outline the procedure of stores verification.
Date posted:
October 12, 2017
.
Answers (1)
-
What is the purpose of physical verification of stores.
(Solved)
What is the purpose of physical verification of stores.
Date posted:
October 12, 2017
.
Answers (1)
-
State the main functions of storekeeping.
(Solved)
State the main functions of store keeping.
Date posted:
October 12, 2017
.
Answers (1)
-
Define the term storekeeping.
(Solved)
Define the term storekeeping.
Date posted:
October 12, 2017
.
Answers (1)
-
Explain how material management helps an enterprise in reducing cost of production and distribution and also attaining its objectives.
(Solved)
Explain how material management helps an enterprise in reducing cost of production and distribution and also attaining its objectives.
Date posted:
October 12, 2017
.
Answers (1)
-
What are the functions of material management ?
(Solved)
What are the functions of material management.
Date posted:
October 12, 2017
.
Answers (1)
-
Limor is an investor and wishes to invest in machinery, discuss the following methods of investment appraisal to advise Limor and giving advantages of each(Clearly outline the source document)
(Solved)
Limor is an investor and wishes to invest in machinery,Discuss the following methods of investment appraisal to advise Limor and giving advantages of each(Clearly outline the source document)
a.NPV(Net present value)
b.Pay back period(Pay back period)
c.ARR(Accounting rate of return)
d.IRR(Internal rate of return)
Date posted:
October 7, 2017
.
Answers (1)
-
Give functions of office practice
(Solved)
Functions of office practice
Date posted:
October 3, 2017
.
Answers (2)
-
Differentiate between personal and impersonal accounts.
(Solved)
Differentiate between personal and impersonal accounts.
Date posted:
October 2, 2017
.
Answers (1)
-
Give the various types of cashbook.
(Solved)
Give the various types of cashbook.
Date posted:
October 2, 2017
.
Answers (1)
-
Explain the going -concern concept as an accounting principle.
(Solved)
Explain the going -concern concept as an accounting principle.
Date posted:
October 2, 2017
.
Answers (1)
-
Differentiate between Business entity concept and Money measurement concept.
(Solved)
Differentiate between Business entity concept and money measurement concept.
Date posted:
October 2, 2017
.
Answers (1)