Question 1

0 Votes 1 Ans

On 1st April, 2023 X, Y and Z started a business in partnership. X contributes ₹ 90,000 at first but withdraws ₹ 30,000 at the end of six months

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Question 2

0 Votes 1 Ans

Lalan and Balan were partners in a firm sharing profits in the ratio of 3:2. Their fixed capital on 1st April 2022 was: Lalan ₹ 10,00,000 and Balan ₹ 20,00,000

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Question 3

0 Votes 1 Ans

Lalan and Balan were partners in a firm sharing profits in the ratio of 3 : 2. Their fixed capitals on 1st April, 2023 were : Lalan ₹ 1,00,000 and Balan ₹ 2,00,000

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Question 4

0 Votes 1 Ans

Kavita and Leela are partners with capitals of ₹ 6,00,000 and ₹ 4,00,000 and sharing profits & Loss in the ratio of 2 : 1. Their partnership deed provides that interest on capitals shall be provided @ 8% p.a

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Question 5

0 Votes 1 Ans

On 1-4-2022, Brij and Nandan entered into partnership to construct toilets in government girls schools in the remote areas of Uttarakhand. They contributed capitals of ₹ 10,00,000 and ₹ 15,00,000 respectively

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Question 6

0 Votes 1 Ans

P and Q were partners in a firm sharing profits in 3 : 1 ratio. Their respective fixed capitals were ₹ 10,00,000 and ₹ 6,00,000. The partnership deed provided interest on capital @ 12% p.a

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Question 7

0 Votes 1 Ans

A and B contribute ₹ 4,00,000 and ₹ 3,00,000 respectively as their capitals. They decided to allow interest on capital @ 8% p.a. Their respective share of profit is 3 : 2

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Question 8

0 Votes 1 Ans

X and Y are partners sharing the profits and losses in the ratio of 2 : 1 with capitals of ₹ 50,000 and ₹ 30,000 respectively. Show the distribution of profits in each of the following alternative cases

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Question 9

0 Votes 1 Ans

Anamika and Monika are partners in a firm. Anamika withdrew ₹ 25,000 at the end of each month and interest on drawings was calculated ₹ 8,250 at the end of the year

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Question 10

0 Votes 1 Ans

Sneha is a partner in a firm. Calculate the amount of Sneha’s quarterly drawings for the year ended 31st March, 2023, in the following cases when interest is charged @ 10% p.a

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Question 11

0 Votes 1 Ans

Calculate the amount of Era’s monthly drawings for the year ended 31st March 2023 in the following cases when interest is charged on drawings @ 10% p.a

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Question 12

0 Votes 1 Ans

A, B and C are partners in a firm. For six months ending 31st March 2024. A drew regularly ₹ 15,000 in the beginning of every month. B drew regularly ₹ 20,000 at the end of every month

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Question 13

0 Votes 1 Ans

Gupta is a partner in a firm. He drew regularly ₹ 800 at the beginning of every month for the six months ending 31st March, 2024. Calculate interest on drawings at 15% p.a

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Question 14

0 Votes 1 Ans

Calculate the interest on drawings of Sh. Ganesh @ 9% p.a. for the year ended 31st March, 2024, in each of the following alternative cases:

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Question 15

0 Votes 1 Ans

Calculate the interest on drawings of Mr. Aditya @ 8% p.a. for the year ended 31st March, 2024, in each of the following alternative cases

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Question 16

0 Votes 1 Ans

X, Y and Z are partners in a firm. Their Capitals as on April 1, 2022 were ₹ 5,00,000; ₹ 4,00,000 and ₹ 3,00,000 respectively. On July 1, 2022 they introduced further Capitals of ₹ 1,00,000; ₹ 80,000 and ₹ 50,000 respectively

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Question 17

0 Votes 1 Ans

X, Y and Z are partners in a firm. You are informed that (i) X draws ₹ 4,000 from the firm at the beginning of every month, (ii) Y draws ₹ 4,000 from the firm at the end of every month

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Question 18

0 Votes 1 Ans

X, Y and Z are partners in a firm sharing profits and losses in the ratio 5 : 3 : 2. Their capitals (fixed) are ₹ 2,00,000; ₹ 1,50,000; ₹ 1,25,000 respectively

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Question 19

0 Votes 1 Ans

Gopal is a partner in a firm. He withdrew ₹ 1,000 p.m. regularly on the first day of every month during the year ended 31st March, 2024 for personal expenses

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Question 20

0 Votes 1 Ans

A, B and C are partners in a firm sharing profits and losses equally. On 1st April, 2023 their fixed capitals were ₹ 8,00,000, ₹ 6,00,000 and ₹ 6,00,000 respectively. On 1st October 2023, A advanced ₹ 1,00,000 to the firm whereas C took a loan of ₹ 1,50,000 from the firm on the same date

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Question 21

0 Votes 1 Ans

A and B are partners sharing profits and losses equally with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Their drawings during the year ending on 31st March, 2023 are as follows

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Question 22

0 Votes 1 Ans

Gupta is a partner in a firm. He drew regularly ₹ 800 at the end of every month for the six months ending 31st March, 2024. Calculate interest on drawings at 15% p.a

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Question 23

0 Votes 1 Ans

Mr. Ashok Gupta is a partner in a firm. He withdrew the following amounts during the year ended 31st March, 2024

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Question 24

0 Votes 1 Ans

A is a partner in a firm. During the year ended 31st March, 2024, A’s drawings were:

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Question 25

0 Votes 1 Ans

X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2 with capitals of ₹ 10,00,000 and ₹ 5,00,00 respectively. As per the partnership deed, they are to be allowed interest on capital @ 8% p.a

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