Nirmal and Pawan are partners sharing profits in the ratio of 3 : 2. The firm had given a loan to Pawan of ₹ 5,00,000 on 1st April
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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
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Atul, Jetha, and Tarak are partners sharing profits equally. Jetha was given a loan by the firm on 1st July 2022 of ₹ 6,00,000
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Parul, Paresh, and Rahul are partners in a firm. The firm gave a loan to Rahul on 1st February 2022 of ₹ 6,00,000
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Vinod and Mohan are partners. Vinod’s Capital is ₹ 1,00,000 and Mohan’s Capital is ₹ 60,000. Interest on Capital is payable @ 6% p.a
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X, Y, and Z are partners in a firm sharing profits in the ratio of 2 : 2 : 1. Fixed Capitals of the partners were: X ₹ 5,00,000; Y ₹ 5,00,000 and Z ₹ 2,50,000 respectively
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X and Y are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 8,00,000 and ₹ 6,00,000 respectively.
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Atul and Mithun are partners sharing profits in the ratio of 3 : 2. Balances as on 1st April 2022 were as follows
Solution:- Partner’s Share in Divisible Profit. Atul’s Share = 1,20,000 × 3/5 = ₹ 72,000 Mithun’s Share = ₹ 1,20,000 × 2/5 = ₹ 48,000
Reema and Seema are partners sharing profits equally. The Partnership Deed provides that both Reema and Seema will get a monthly salary of ₹ 15,000 each, Interest on Capital will be allowed @ 5% p.a. and Interest on Drawings will be charged @ 10% p.a. Their capitals were ₹ 5,00,000 each and drawings during the year were ₹ 60,000 each.
Solution:- Instructions:- In the case of Loss, Interest on the partner’s capital, salary, and commission are not charged. As these items are appropriated out of profits. Thus in the case of loss, such items can not be provided.
Bhanu and Partap are partners sharing profits equally. Their fixed capitals as on 1st April 2022 were ₹ 8,00,000 and ₹ 10,00,000 respectively
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