X and Y were partners in the profit-sharing ratio of 3 : 2. Their balance sheet as at March 31, 2022 was as follows:
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On 31st March 2023, the Balance Sheet of Zoya and Zara who were sharing profits and losses in the ratio of 3 : 2 was as follows:
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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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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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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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Bat and Ball are partners sharing the profits in the ratio of 2 : 3 with capitals of ₹ 1,20,000 and ₹ 60,000 respectively
Solution:- Video Solution Link Watch Video Solution Click Here Note:- Distributable loss can also be written as divisible Loss. Video Solution Link Watch Video Solution Click Here
Sita and Geeta are partners in a firm sharing profits in the ratio of 3:2. They had given a loan to the firm of ₹ 30,000
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Harshad and Dhiman are in partnership since April 01, 2019, No Partnership agreement was made
Solution:- Solution:- Video Solution Link Watch Video Solution Click Here Harshad Claims i) In the absence of a partnership deed. provisions of the Indian Partnership Act 1932 are applied. No interest on capital is provided and interest on a loan…
Barun, Tarun, and Shivam are partners in a firm and do not have a partnership Deed. Barun introduced further capital of ₹ 5,00,000 on 1st October 2022. Whereas Shivam took a loan of ₹ 50,000 from the firm on 1st October 2022. Disputes have arisen among them on the following:
Solution:- Solution:- Video Solution Link Watch Video Solution of this Question Click Here 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.…
The following difference has arisen among P, Q, and R. State who is correct in each case:
Solution:- Here is the solution of it. Video Solution Link Watch Video Solution of this Question Click Here a) If any partner uses the money of the firm and earned a profit. He has to pay back the used money…