Ram and Laxman started business on 1st April 2022 with capitals of ₹ 20,00,000 and ₹ 12,00,000 respectively. On 1st May, Ram introduced additional capital of ₹ 4,00,000 and Laxam withdrew ₹ 2,00,000 from his capital.
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Om and Shiv entered into a partnership on 1st April 2022 without any Partnership Deed. They introduced capitals of ₹ 5,00,000 and ₹ 3,00,000 respectively
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Ankit, Bhanu, and Charu are partners in a firm sharing profits and losses equally with a capital of ₹ 2,50,000 each.
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Reema, Leena, and Meena are partners in a firm sharing profits and losses equally with a capital of ₹ 5,00,000 each.
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Taran and Deep are partners sharing the profits and losses in the ratio of 2 : 3 with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively
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Bani, Rani, and Mani are partners sharing profits and losses in the ratio of 3 : 2 : 1. Bani and Mani granted loans to the firm on 1st October 2022 of ₹ 2,00,000 and ₹ 3,00,000 respectively
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Jay and Joy are partners in a firm sharing profits in the ratio of 3 : 2. They had given a loan to the firm of ₹ 3,00,000 in their profit sharing ratio on 1st October 2022
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Amitabh presents the following Profit and Loss Appropriation Account to his Partner Bharat:
Solution:- 2nd Method:-
Karan, Nakul, and Asha are partners in a firm and do not have a Partnership Deed. Karan introduced a further capital of ₹ 2,00,000 on 1st October 2022. Whereas Asha took a loan of ₹ 50,000 from the firm on 1st October 2022, Disputes have arisen among them on the following issues:
Solution:- 1) In the absence of a partnership deed, the provisions of the Indian Partnership Act 1932 Apply. No Interest on Karan’s capital will be provided. 2) In the absence of a partnership deed, the provisions of the Indian Partnership…
Ramesh, Mahesh, and Suresh are partners since 1st April 2022 but do not have a Partnership Deed.
Solution:- 1) In the absence of a partnership deed, the provisions of the Indian Partnership Act 1932 Apply. No Interest on Mahesh’s capital will be provided. 2) In the absence partnership deed, the provisions of the Indian Partnership Act 1932…
