Archives Answers

Solution:-  

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  

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.

Solution:-

Solution:- 1st Method: 2nd Method:    

Solution:- 2nd Method:        

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

Solution:- 1st Method: 2nd Method:    

Solution:- Alternative for Journal entry:- Working Notes:-      

Solution:- Alternative for Journal entry: