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In an equal partnership bonus paid to a new partner is distributed equally among the partners. In an unequal partnership bonus is distributed according to the partnership agreement. Assume that Partner A is a 75% partner, and Partner B is a 25% partner. Partner C was admitted to the partnership. He paid $5,000 cash.
The following other wikis use this file: Usage on en.wikisource.org Index:Tales of the Punjab.pdf; Page:Tales of the Punjab.pdf/5; Page:Tales of the Punjab.pdf/6
1) A partnership firm is not a legal entity apart from the partners constituting it. It has limited identity for the purpose of tax law as per section 4 of the Partnership Act of 1932. [24] 2) Partnership is a concurrent subject. Contracts of partnerships are included in the Entry no.7 of List III of The Constitution of India (the list ...
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
The Punjab Agricultural University is a leading institution globally for the study of agriculture and played a significant role in Punjab's Green Revolution of the 1960s–70s. Alumni of the Panjab University, Chandigarh include Manmohan Singh , the former Prime Minister of India , and Dr. Har Gobind Khorana , a biochemistry nobel laureate .
The Central University of Punjab was established through the Central Universities Act 2009 which received the assent of the President of India on 20 March 2009. [2] Its territorial jurisdiction extends to the whole State of Punjab. [3]
It is the largest of Pakistan's industrial sectors, accounting for approximately 12.13% of GDP. [75] The manufacturing sub-sector is further divided into three components: large-scale manufacturing (LSM) with a share of 79.6% in the manufacturing sector, small-scale manufacturing with a share of 13.8% in the manufacturing sector, while ...
Under Punjab Local Government Act 2013, Lahore is a metropolitan area under the authority of the Metropolitan Corporation Lahore. [208] The Metropolitan Corporation Lahore is a body consisting of nine deputy mayors (one from each zone in the district) and the city's mayor – all of whom are elected in popular elections.