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
Solution:-
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Amit and Sumit entered into a partnership on 1st April 2022 and invested ₹ 1,50,000 and ₹ 2,50,000 respectively as capital
Solution:- 1st Method: 2nd Method:
Kamal and Kapil are partners having fixed capitals of ₹ 5,00,000 each as on 31st March 2022
Solution:- 2nd Method:
Simran and Reema are partners sharing profits in the ratio of 3 : 2. Their capitals as on 1st April 2022 were ₹ 2,00,000 each
Solution:- 1st Method: 2nd Method:-
Anita and Ankita are partners sharing profits equally. Their capitals, maintained following Fluctuating Capital Accounts Method, as on 1st April 2022 were ₹ 5,00,000 and ₹ 4,00,000 respectively
Solution:- 1st Method: 2nd Method:
Ashish and Aakash are partners sharing profits in the ratio of 3 : 2. Their Capital Accounts had credit balances of ₹ 5,00,000 and ₹ 6,00,000 respectively
Solution:- Alternative for Journal entry:- Working Notes:-
Naresh and Sukesh are partners with Capitals of ₹ 3,00,000 each as on 31st March, 2023. Naresh and withdrew ₹ 50,000
Solution:- Alternative for Journal entry:
On 1st April 2013, Jay and Vijay entered into a partnership for supplying laboratory equipments to government schools situated in remote and backward areas
Solution:-
A and B are partners in the ratio of 3 : 2. The firm maintains Fluctuating Capital Accounts and the balance of the same as on 31st March
Solution:-
Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March 2023:
Solution:-