Question 1

0 Votes 1 Ans

A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. The following was the Balance Sheet of the firm as at 31.3.2024

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Question 2

0 Votes 1 Ans

Kaveri and Tapti are partners sharing profits in the ratio of 2 : 1. Following particulars are obtained from their books:

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Question 3

0 Votes 1 Ans

The capital accounts of A, B and C showed credit balances of ₹ 5,00,000, ₹ 3,00,000 and ₹ 2,00,000 respectively, after taking into account drawings and net profit of ₹ 3,00,000

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Question 4

0 Votes 1 Ans

A and B are partners in a business sharing profits and losses in the ratio of 3 : 2. Their capitals on 31st March, 2024, after the adjustment of net profits and drawings amounted to ₹ 2,00,000 and ₹ 1,50,000 respectively

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Question 5

0 Votes 1 Ans

The capitals of A, B and C stood at ₹ 20,000, ₹ 15,000 and ₹ 10,000 respectively after the necessary adjustment in respect of drawings and net profits. Subsequently

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Question 6

0 Votes 1 Ans

Mohan, Vijay and Anil are partners, their capitals on 31st March 2024 after adjustments of drawings and profits were ₹ 30,000, ₹ 25,000 and ₹ 20,000 respectively

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Question 7

0 Votes 1 Ans

Sachin, Kapil and Rashmi have been sharing profits in the ratio of 3 : 2 : 1 respectively. Rashmi wants that she should share profits equally along with Sachin and Kapil

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Question 8

0 Votes 1 Ans

After the accounts of a partnership have been drawn up and the books closed off, it is discovered that for the years ended 31st March, 2023 and 2024

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Question 9

0 Votes 1 Ans

A, B and C were partners sharing profits in the ratio of 1 : 2 : 3. A withdrew ₹ 5,000 every month, B withdrew ₹ 60,000 during the year and C withdrew ₹ 15,000 during each quarter

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Question 10

0 Votes 1 Ans

A, B and C are partners in a firm sharing profits and losses in the ratio of 4 : 3 : 3. Their fixed capitals were ₹ 1,00,000, ₹ 2,00,000 and ₹ 3,00,000 respectively

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Question 11

0 Votes 1 Ans

A, B and C were partners in a firm. Their capitals were A ₹ 1,00,000, B ₹ 2,00,000 and C ₹ 3,00,000 respectively on 1st April, 2023. According to the partnership deed they were entitled to an interest on capital @ 5% p.a

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Question 12

0 Votes 1 Ans

A, B and C were partners in a firm. On 1st April, 2021 their capitals stood as ₹ 5,00,000; ₹ 2,50,000 and ₹ 2,50,000 respectively. As per provisions of the partnership deed

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Question 13

0 Votes 1 Ans

Suresh and Ramesh were partners in a firm sharing profits in the ratio of 3 : 2. Their fixed capitals were : Suresh ₹ 9,00,000 and Ramesh ₹ 6,00,000

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Question 14

0 Votes 1 Ans

A, B and C are partners sharing profits in the ratio of 2 : 2 : 1. Their fixed capitals were ₹ 4,00,000, ₹ 2,50,000 and ₹ 1,00,000 respectively

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Question 15

0 Votes 1 Ans

Kumar and Raja were partners in a firm sharing profits in the ratio of 7 : 3. Their fixed capitals were : Kumar ₹ 9,00,000 and Raja ₹ 4,00,000

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Question 16

0 Votes 1 Ans

On 1st April, 2022 the Capitals of A and B were ₹ 4,00,000 and ₹ 2,00,000 respectively. They divided profits in their capital ratio, Profits for the year ended 31st March

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Question 17

0 Votes 1 Ans

P, Q and R are partners sharing profits in the ratio of 2 : 1 : 1. Their capitals as on 1st April, 2023 were ₹ 50,000, ₹ 30,000 and ₹ 20,000 respectively

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Question 18

0 Votes 1 Ans

Anil, Sunil and Sanjay have omitted interest on Capitals for two years ended on 31st March, 2023. Their fixed capitals in two years were Anil ₹ 8,00,000, Sunil ₹ 7,00,00 and Sanjay ₹ 3,00,000

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Question 19

0 Votes 1 Ans

A and B were partners sharing profits in 2 : 1 ratio. During the year ended 31st March, 2023, A’s drawings were ₹ 50,000 per month drawn in the beginning of every month

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Question 20

0 Votes 1 Ans

A, B, C and D are partners sharing profits and losses in 2 : 2 : 3 : 3 respectively. After the accounts of the year had been closed, it was found that interest on drawings @ 6% p.a

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Question 21

0 Votes 1 Ans

A, B and C are partners sharing profits and losses in the ratio of 5 : 3 : 1. After the final accounts have been prepared, it was discovered that interest on drawings

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Question 22

0 Votes 1 Ans

Asha, Suman and Verka were partners in a firm, their capitals were ₹ 9,00,000, ₹ 7,00,000 and ₹ 4,00,000 respectively as on 1st April, 2022

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Question 23

0 Votes 1 Ans

A, B and C are partners sharing profits and losses in the ratio of 1 : 2 : 3. They have omitted interest on capital @ 8% p.a. for two years ended 31st March

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Question 24

0 Votes 1 Ans

A, B, C and D are partners sharing profits in 2 : 2 : 1 : 1. They distributed the profit for the year ending 31st March, 2023, ₹ 9,00,000 without providing for the following

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Question 25

0 Votes 1 Ans

After the accounts of the partnership have been drawn up and the books closed off, it is discovered that interest on capitals @ 8% p.a. as provided

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