Across
- 1. profit is excess of actual profits over normal profits
- 4. Capital Accounts with balances always show credit balance
- 8. _________ Goodwill is that goodwill for which the firm has paid consideration in cash or kind.
- 10. Revaluation Account or Profit and Loss Adjustment A/c is a
- 11. Current accounts are opened if capital is
- 12. Excess amount that firm gets over and above market value or assets at time of sale
- 13. Goodwill is an _______ Assets
- 14. Unrecorded Assets will be _______ in Revaluation Account.
Down
- 2. Agreement among partners
- 3. Ratio in which one or more partners of firm forego
- 5. When the new partner pays for goodwill in cash, the amount should be debited in the firm's book to
- 6. In a partnership liability of all partners is
- 7. The business of _________ concern may be carried on by all the partners or any of them acting for all.
- 9. Unrecorded liabilities will be ______ in Revaluation Account.
