PARTNERSHIP ACCOUNTS

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Across
  1. 2. DIFFERENCE BETWEEN NEW RATIO AND OLD RATIO
  2. 5. ACCOUNT PREPARED IN CASE OF DISSOLUTION
  3. 7. REVALUATION ACCOUNT IS A ACCOUNT
  4. 8. ACCOUNTING SYSTEM SHOULD RECOGNISE ONLY GOODWILL
  5. 11. THE RATIO IN WHICH THE PREMIUM PAID BY THE NEW PARTNER IS SHARED BY THE OLD PARTNER
  6. 12. IN ABSENCE OF AGREEMENT PROFITS SHOULD BE SHARED
  7. 14. CAPITAL OF RETIRING PARTNER AFTER ALL ADJUSTMENTS IS TRANSFERRED TO
Down
  1. 1. GOODWILL IS AN ASSET
  2. 3. ONE OF THE REASONS FOR DISSOLUTION
  3. 4. INSURANCE TAKEN BY THE FIRM ON ITS PARTNERS
  4. 6. ONE OF THE REASONS WHY A NEW PARTNER IS ADMITTED
  5. 9. THE INTEREST PERCENTAGE ON CAPITAL THAT A RETIRING PARTNER IS ENTITLED TO
  6. 10. WINDING UP OF BUSINESS OR FIRM PERMANENTLY
  7. 13. INCASE OF ADMISSION THE GENERAL RESERVE IN THE BALANCE SHEET IS WRITTEN OF IN RATIO