CA Foundation Exam > CA Foundation Questions > In the case of admission of a partner, the en...
Start Learning for Free
In the case of admission of a partner, the entry for unrecorded investment will be?
Most Upvoted Answer
In the case of admission of a partner, the entry for unrecorded invest...
Admission of a Partner and Entry for Unrecorded Investment
- Admission of a Partner: Admission of a partner refers to the process of adding a new partner to an existing partnership firm. This can happen due to various reasons such as retirement of an existing partner, expansion of business, etc.
- Unrecorded Investment: Unrecorded investment refers to the amount invested by the incoming partner in the partnership firm, which has not been recorded in the books of accounts of the firm.
- Entry for Unrecorded Investment: When a new partner is admitted and there is an unrecorded investment made by the incoming partner, the following entry is made in the books of accounts of the firm:
Unrecorded Investment A/c Dr.
To Incoming Partner's Capital A/c
To Incoming Partner's Capital A/c
- The above entry is made to record the unrecorded investment made by the incoming partner. The Unrecorded Investment A/c is debited to recognize the investment made by the incoming partner, while the Incoming Partner's Capital A/c is credited to give the incoming partner credit for the investment made.
- The amount of the unrecorded investment is then added to the capital account of the incoming partner.
- If the unrecorded investment is made in installments, then the above entry is made each time an installment is made.
Community Answer
In the case of admission of a partner, the entry for unrecorded invest...
Dr Unrecorded Investment A/C & Cr Revaluation A/C
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
In the case of admission of a partner, the entry for unrecorded investment will be?
Question Description
In the case of admission of a partner, the entry for unrecorded investment will be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the case of admission of a partner, the entry for unrecorded investment will be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the case of admission of a partner, the entry for unrecorded investment will be?.
In the case of admission of a partner, the entry for unrecorded investment will be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the case of admission of a partner, the entry for unrecorded investment will be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the case of admission of a partner, the entry for unrecorded investment will be?.
Solutions for In the case of admission of a partner, the entry for unrecorded investment will be? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of In the case of admission of a partner, the entry for unrecorded investment will be? defined & explained in the simplest way possible. Besides giving the explanation of
In the case of admission of a partner, the entry for unrecorded investment will be?, a detailed solution for In the case of admission of a partner, the entry for unrecorded investment will be? has been provided alongside types of In the case of admission of a partner, the entry for unrecorded investment will be? theory, EduRev gives you an
ample number of questions to practice In the case of admission of a partner, the entry for unrecorded investment will be? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup