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Solution:- a) In The absence of Partnership Dee, provisions of the Indian Partnership Act, of 1932 are applied and no Salaries to partners are provided. Hence no salaries would be provided to Partners. b) In The absence of Partnership Dee,…

Solution:- a) In the absence of a partnership deed. provisions of the Indian Partnership Act 1932 would apply. no interest on the partner’s capital would be allowed. Ramesh and Suresh both are correct. b) In the absence of a partnership…

Solution:- Here is the solution of it. a) If any partner uses the money of the firm and earned a profit. He has to pay back the used money with profit. hence, p has to back ₹ 55,000 to the…

Solution:- Here is the solution of it. a) In the case of the absence of a Partnership deed. Provisions of the Indian partnership Act 1932 would apply. No interest on capital would be allowed. b) In the case of the…

Solution:- Harshad Claims:- i) In the absence of a partnership deed, provisions of the Indian Partnership Act 1932 Applied. No Interest on capital is provided and interest on a loan of the partner is given @ 6% p.a. ii) In…

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Solution:- Note:- Distributable loss can also be written as divisible Loss.

Solution:- 1st Method:- Working Notes:- 2nd Method:-      

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