sushant123pani
Asked:
December 2022
69 Naveen, Qadir and Rajesh were partners doing an electronic goods business in Uttarakhand. After the accounts of partnership were drawn up and closed, it was discovered that interest on capital has been allowed to partners @ 6% p.a. for the years ending 31st March, 2017 and 2018, although there...
sushant123pani
Asked:
December 2022
Nirmal and Pawan are partners sharing profits in the ratio of 3 : 2. The firm had given loan to Pawan of ` 5,00,000 on 1st April, 2019. Interest was to be charged @ 10% p.a. The firm took loan of Rs 2,00,000 from Nirmal on 1st October, 2019. Before...
65 A, B and C were partners. Their fixed capitals were Rs 60,000, Rs 40,000 and Rs 20,000 respectively. Their profit-sharing ratio was 2 : 2 : 1. According to the Partnership Deed, they were entitled to interest on capital @ 5% p.a. In addition, B was also entitled to...
sushant123pani
Asked:
December 2022
Aman, Naman and Raman were partners in a firm sharing profits and losses in the ratio 2:2:1. On 31st March 2020 their Balance sheet was as follows: Liabilities Amount Assets Amount Capital Aman - 8,00,000 Naman -7,00,000 Raman- 5,00,000 Workmen compensation Reserve General Reserve Employee Provident fund Creditors 20,00,000 50,000...