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:
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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…
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:
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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.
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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.
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Capitals of Kajal, Neerav, and Alisha as on 31st March 2023 were ₹ 90,000, ₹ 3,30,000, and ₹ 6,60,000 respectively
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Mohit and Sobhit are partners sharing profits in the ratio of 3:2. Rohit was admitted for 1/6th share of profit
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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.
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Reduction in production of junk food :
Ans – c) Explanation:- Reduction in production reduces employment thus reducing welfare. On the other hand, a reduction in the production of junk food reduces health issues. thus increasing welfare.
Production of petrol and diesel driven vehicles :
Ans – c) Explanation:- Petrol and diesel-driven vehicles raise welfare as it reduces the time of distance travel. At the same time, such vehicles spread air pollution that reduces the life of countries citizen