Mona and Roma contribute as capital ₹ 2,00,000 and ₹ 1,00,000 respectively. They decide to allow interest on capital @ 6% p.a
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Ram and Laxman started business on 1st April 2022 with capitals of ₹ 20,00,000 and ₹ 12,00,000 respectively. On 1st May, Ram introduced additional capital of ₹ 4,00,000 and Laxam withdrew ₹ 2,00,000 from his capital.
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Om and Shiv entered into a partnership on 1st April 2022 without any Partnership Deed. They introduced capitals of ₹ 5,00,000 and ₹ 3,00,000 respectively
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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 each.
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Reema, Leena, and Meena are partners in a firm sharing profits and losses equally with a capital of ₹ 5,00,000 each.
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Taran and Deep are partners sharing the profits and losses in the ratio of 2 : 3 with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively
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Bani, Rani, and Mani are partners sharing profits and losses in the ratio of 3 : 2 : 1. Bani and Mani granted loans to the firm on 1st October 2022 of ₹ 2,00,000 and ₹ 3,00,000 respectively
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Jay and Joy are partners in a firm sharing profits in the ratio of 3 : 2. They had given a loan to the firm of ₹ 3,00,000 in their profit sharing ratio on 1st October 2022
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Amitabh presents the following Profit and Loss Appropriation Account to his Partner Bharat:
Solution:- 2nd Method:-
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…