The partners of a firm distributed the profits for the year ended 31st March, 2024, ₹ 1,50,000 in the ratio of 2 : 2 : 1. without providing for the following adjustments
Solution:-
Commerce School
Student Community
Archives Answers
Answer
A, B, C and D are partners sharing profits in the ratio of 4 : 3 : 2 : 1. D is given a guarantee that his share of profits in any given year would not be less than ₹ 1,20,000
Solution:-
A, B and C were partners sharing profits and losses in the ratio of 3 : 2 : 1. Their capitals on 1st April, 2023 were: A ₹ 5,00,000; B ₹ 3,00,000 and C ₹ 2,00,000
Solution:-
A, B and C were partners in a firm sharing profits in the ratio of 1 : 2 : 3. B was guaranteed a profit of ₹ 2,00,000. Any deficiency on account of guarantee to B was to be borne by A and C in 1 : 4 ratio
Solution:-
X, Y and Z are partners with capitals of ₹ 4,00,000; ₹ 3,00,000 and ₹ 2,00,000 respectively. They charge 8% p.a. interest on their capitals are divide the profits in the ratio of 3 : 2 : 1
Solution:-
A, B and C are partners in a firm. Their profit sharing ratio is 3 : 2 : 1. However, C is guaranteed a minimum amount of ₹ 10,000 as share of profits every year
Solution:- Case – 1 Case – 2
Piya and Shreya are partners in a firm. Their Capital Accounts as on 1st April, 2023 were ₹ 5,00,000 and ₹ 3,00,000 respectively
Solution:-
Cheese and Slice are equal partners. Their capitals as on April 01, 2022 were ₹ 50,000 and ₹ 1,00,000 respectively. After the accounts for the financial year ending March 31, 2023 have been prepared
Solution:-
From the following Balance Sheet of A and B, calculate interest on capital at 5% p.a. for the year ending 31st March, 2024
Solution:-
A and B are partners sharing profits and losses in the ratio of 3 : 1. Following is the Balance Sheet of the firm as at 31st March, 2024
Solution:-