circumstances in dissolution of solvent and insolvent partner in garner v/s murray rule
Answer Posted / shweta
When a partner’s capital account shows a debit balance on dissolution of the firm, he has to pay the debit balance to the firm to settle his account. If the partner becomes insolvent, he is unable to pay back the amount owed by him to the firm in full. The amount not paid is a loss to the firm which under the Garner vs Murray Rule is to be borne by the solvent partners
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
please tell me questions asked in NICMAR for the post of accounts executive
Expand---------BPCD
Where the Cost of labour, Material used and sales scrap (if sales given)get effect in balance sheet
Expand-------SNAT
what is Contra Asset?
hii,i was appeared in recruitment process of Catholic Syrian Bank.Interview question were general banking related... as what is crr,calling rate, current inflationrate etc
What elements of your job do you find most difficult
Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office
explain about mergers & aquisitions? asked on 30/7/09
what is the main link between the income statement and the balance sheet?
Hello Everbody....this saturday i attended the interview of times job fair...were capgemini has called me for technical round ..I am bcom graduate with tally an SAP FICO....Can any body help me ... I wan to know what is this technical round...An what they may ask me ......if any body have question an answer kindly send to my id ..that is damudi123@yahoo.com....or contact me to my number ..+919900410314.Or any body have friends working in capgemini bangalore?Please i need urgent help...thnak you with regards adnan hasan
outstanding expenses, prepaid or unexpired expenses
please send me last 3 years question & solution
What is ABC Analysis in industrial function. hw can it s maintain ?
How now about sales tax and purchase tax.what is the persentage of those thing in tamil nadu.