Abha and Ritu were partners sharing profits and losses in the ratio of 5:3. Their Balance Sheet as at 31st March 2022 was as under: Liabilities Bills Payable Creditors Workmen Compensation Fund General Reserve Profit and Loss A/c Capital Accounts: ...
Utilize IDistributedCache for session management in .NET Core. Implement AddSession in ConfigureServices and UseSession in Configure to set up session handling effectively. Handling sessions in .NET Core involves several steps: Configure Session Middleware: Add session middleware in the Startup.cs fRead more
Utilize IDistributedCache for session management in .NET Core. Implement AddSession in ConfigureServices and UseSession in Configure to set up session handling effectively.
Handling sessions in .NET Core involves several steps:
Configure Session Middleware: Add session middleware in the
Startup.csfile. This involves adding session services in theConfigureServicesmethod and configuring the middleware in theConfiguremethod.public void ConfigureServices(IServiceCollection services) { services.AddDistributedMemoryCache(); services.AddSession(options => { options.IdleTimeout = TimeSpan.FromMinutes(30); options.Cookie.HttpOnly = true; options.Cookie.IsEssential = true; }); } public void Configure(IApplicationBuilder app, IHostingEnvironment env) { app.UseSession(); }Store and Retrieve Data: Use the
HttpContext.Sessionproperty to store and retrieve session data.// Store data in session HttpContext.Session.SetString("Key", "Value"); // Retrieve data from session var value = HttpContext.Session.GetString("Key");3. Store and Retrieve Data: Use the
HttpContext.Sessionproperty to store and retrieve session data.4. Session Security: Ensure that session data is secure by using HTTPS and setting appropriate cookie options. Avoid storing sensitive information in sessions.
5. Session Expiration: Manage session expiration and cleanup to prevent memory leaks and ensure efficient resource usage. Configure session timeout settings based on your application’s requirements.
6. Distributed Sessions: For applications deployed across multiple servers, use distributed session storage options like Redis or SQL Server to ensure session consistency.
To analyze the partnership scenario involving Abha, Ritu, and the newly admitted partner Sonal, we will go through the necessary calculations and adjustments step by step. Initial Partnership Details Abha and Ritu share profits and losses in the ratio of 5:3. Their balance sheet as of March 31, 2022Read more
To analyze the partnership scenario involving Abha, Ritu, and the newly admitted partner Sonal, we will go through the necessary calculations and adjustments step by step.
Initial Partnership Details
Abha and Ritu share profits and losses in the ratio of 5:3. Their balance sheet as of March 31, 2022, is as follows:
Liabilities
Assets
Admission of Sonal
On April 1, 2022, Sonal is admitted into the partnership for a 1/4th share, which she acquires from Abha and Ritu in the ratio of 2:1 respectively.
Calculating Shares Transferred
Sonal takes:
New Profit-Sharing Ratio
After Sonal’s admission:
Total shares now = 11/3+7/3+2=(11+7+6)/3=24/3=8
Thus,
So the new profit-sharing ratio is 11:7:6.
Goodwill Adjustment
The goodwill of the firm is valued at Rs. 96,000.
Sonal’s Share of Goodwill
Sonal’s share of goodwill:
Sonal s Share=41×Rs.96,000=Rs.24,000
Since Sonal cannot contribute this amount in cash:
Provision for Doubtful Debts
A provision for doubtful debts of Rs.6,000 needs to be created by adjusting the debtors’ account.
Updated Balance Sheet Adjustments
After accounting for goodwill adjustments and the provision for doubtful debts:
Liabilities
Assets
After creating a provision for doubtful debts:
Final Totals
Total Liabilities and Assets should balance out after these adjustments.This comprehensive analysis provides a clear understanding of how to adjust the partnership structure upon Sonal’s admission while considering goodwill contributions and provisions for doubtful debts effectively.
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