Amitabh presents the following Profit and Loss Appropriation Account to his Partner Bharat:
Solution:- 2nd Method:-
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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…
In The absence of a Partnership Deed, State the provisions of the Partnership Act, 1932 relating to:
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X and Y are partners sharing profits and losses in the ratio of 2:3 with capitals of ₹ 2,00,000 and ₹ 3,00,000 respectively
Solution:-
Akhil, Sunil, and Parvesh are partners sharing profits in the ratio of 3 : 2 : 1. Sunil had given a loan to the firm on 1st November 2022 of ₹ 4,00,000
Solution:- 1st Method:- Working Notes:- 2nd Method:-
Akhil and Bimal are partners sharing profits in the ratio of 3 : 2. Akhil gave a loan to the firm of ₹ 1,00,000 on 1st October 2022
Solution:-
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
Solution:-
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
Solution:-
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
Solution:-