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Answer

Mohan, Vijay, and Anil are partners, the balances of their Capital Accounts being ₹ 30,000; ₹ 25,000, and ₹ 20,000 respectively. In arriving at these amounts profit for the year ended 31st March 2023, ₹ 24,000, and been credited to partners in their profit sharing ratio.

Solution:-

Anurag Pathak
April 11, 2023

Mudit, Sudhir, and Uday are partners in a firm sharing profits in the ratio of 3 : 1 : 1. Their fixed capital balances are ₹ 4,00,000, ₹ 1,60,000, and ₹ 1,20,000 respectively

Solution:-

Anurag Pathak
April 11, 2023

Piya and Bina are partners in a firm sharing profits and losses in the ratio of 3 : 2. Following was the Balance Sheet of the firm as on 31st March 2016:

Answer:-

Anurag Pathak
April 11, 2023

Naveen, Qadir, and Rajesh were partners doing an electronic goods business in Uttarakhand. After the accounts of the partnership were drawn up and closed

Solution:- Working Notes:- Working Notes:- Interest on Capital Naveen 4,00,000 × 6% = ₹ 24,000 Qadir 3,60,000 × 6% = ₹ 21,600 Rajesh 2,40,000 × 6% = ₹ 14,400 Salary Naveen 3,500 × 4 = ₹ 14,000 4,000…

Anurag Pathak
April 11, 2023
2 Comments

Mannu and Shrishti are partners in a firm sharing profits in the ratio of 3 : 2. Following information is of the firm as on 31st March 2023:

Solution:-

Anurag Pathak
April 11, 2023

On 31st March 2018, the balances in the Capital Accounts of Abhir, Bobby, and Vineet, after making adjustments for profits and drawings were ₹ 8,00,000, ₹ 6,00,000, and ₹ 4,00,000 respectively.

Solution:-

Anurag Pathak
April 11, 2023
2 Comments

On 31st March 2014, the balances in the capital accounts of Saroj, Mahiner, and Umar after making adjustments for profits and drawings, etc., were ₹ 80,000, ₹ 60,000, and ₹ 40,000 respectively. Subsequently, it was discovered that the interest on capital and drawings has been omitted.

Solution:-

Anurag Pathak
April 11, 2023

Capitals of Kajal, Neerav, and Alisha as on 31st March 2023 were ₹ 90,000, ₹ 3,30,000, and ₹ 6,60,000 respectively

Solution:-

Anurag Pathak
April 11, 2023

Mohit and Sobhit are partners sharing profits in the ratio of 3:2. Rohit was admitted for 1/6th share of profit

Solution:-

Anurag Pathak
April 11, 2023

A, B, and C were in partnership sharing profits and losses in the ratio of 4 : 2 : 1. It was provided that C’s share in profit for a year would not be less than ₹ 75,000.

Solution:-

Anurag Pathak
April 11, 2023