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  1. Dissolution of partnership-with book values of assets, except cash and bank

    • Dr Dissolution
    • Cr Assets

  2. Dissolution of partnership-with dissolution expenses

    • Dr Dissolution
    • Cr Cash

  3. Dissolution of partnership-with agreed values of any assets taken over by a partner

    • Dr Capital
    • Cr dissolution

  4. Dissolution of partnership-with amounts realized for the asset

    • Dr Bank
    • Cr dissolution

  5. Dissolution of partnership-with cash paid to settle liabilities

    • Dr Creditors
    • Cr bank and dissolution(discounts received, if any)

  6. Dissolution of partnership-transfer balance of dissolution to capital in profit sharing ratio(if profit incurred)

    • Dr dissolution
    • Cr Capital

  7. Dissolution of partnership-transfer balance of dissolution to capital in profit sharing ratio(if loss incurred)

    • Dr capital
    • Cr dissolution

  8. Dissolution of partnership-with balance due to partners as shown by former accounts

    • Dr Capital
    • Cr bank

  9. Dissolution of partnership in sale of business-with book values of liabilities, if taken over by a purchaser

    • Dr Liabilities
    • Cr Dissolution

  10. Dissolution of partnership in sale of business-with proceeds of sales of business

    • Dr Vendee(business purchase)
    • Cr dissolution

  11. Dissolution of partnership in sale of business-with purchase consideration settled by cash, shares etc

    • Dr Cash
    • Dr capital
    • Cr Vendee

    • revaluation of partnership assets-with amount of appreciation of assets
    • Dr Assets
    • Cr Revaluation

  12. revaluation of partnership assets-with amount of depreciation of assets

    • Dr Revaluation
    • Cr assets

  13. revaluation of partnership assets-with profit on revaluation

    • Dr Revaluation
    • Cr old partners' capital account

  14. revaluation of partnership assets-with loss on revaluation

    • Dr old partners' capital account
    • Cr revaluation

  15. goodwill for partnership-retaining goodwill

    • Dr goodwill
    • Cr capital(in old profit sharing ratio)

  16. goodwill for partnership-write off immediately

    • Dr Capital(in new profit sharing ratio)
    • Cr goodwill

  17. goodwill for partnership-with amount of gain in goodwill

    • Dr capital
    • Cr goodwill adjustment

  18. goodwill for partnership-with amount of loss in goodwill

    • Dr goodwill adjustment
    • Cr capital

  19. bearing the deficit account of one partner according to the agreed ratio

    • Dr capital(solvent partners)
    • Cr capital(insolvent partner)

  20. Company accounts-interim dividends declared and paid

    • Dr Dividend
    • Cr Cash

  21. Company accounts-final dividend approved

    • Dr Dividend
    • Cr Proposed dividend(or dividend payable)

  22. Company accounts-dividend

    Dr appropriation

  23. Company accounts-transfer to general reserve

    Dr appropriation

  24. Company accounts-director's fees and salaries

    Dr P&L

  25. Company accounts-debenture interest

    Dr P&L

  26. Company accounts-auditor's remuneration

    Dr P&L

  27. financial ratios-gross profit ratio

    gross profit/sales

  28. financial ratios-mark up ratio

    gross profit/cost of goods sold

  29. financial ratios-net profit ratio

    net profit/sales

  30. financial ratios-return on capital employed

    net profit/capital employed

  31. financial ratios-current ratio/working capital ratio

    current assets/current liabilities

  32. financial ratios-acid ratio/quick ratio/liquidity ratio

    all current assets except stock/current liabilities

  33. financial ratios-debtors ratio

    year end debtors/credit sales*365

  34. financial ratios-creditors ratio

    year end creditors/credit purchases*365

  35. financial ratios-stock turnover ratio
    cogs/average stock or average stock/cogs*12months
Card Set:
2013-09-23 18:06:35

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