Kanav, Parv, and Sheel entered into a partnership on 1st October 2022 and decided to share profits and losses in the ratio of 4 : 3 : 3. Kanav personally guaranteed that Sheel’s share of profit after charging interest on capital @ 10% p.a
Solution:-
Commerce School
Student Community
Archives Answers
Answer
Vishesh, Vaibhav, and Vibhuti entered into a partnership on 1st April 2022 sharing profits in the ratio of 5 : 3 : 2. Vishesh guaranteed that Vibhuti’s Share of profit, after charging interest on capital @ 5% p.a
Solution:-
Neel, Nitin, and Neeraj are partners having Capital of ₹ 15,00,000; ₹ 12,00,000, and ₹ 9,00,000 respectively, and sharing profit and losses equally. Neeraj is guaranteed a minimum profit of ₹ 1,50,000 per annum
Solution:-
Vicky, Vijay, and Veenu are partners sharing profits in the ratio of 5 : 4 : 1, Veenu is given a guarantee that his minimum share of profit in any given year would be at least ₹ 5,000
Solution:- Working Notes:-
Aarav, Prithvi and Saksham are partners in a firm. Their profit sharing ratio is 2 : 2 : 1. Saksham is guaranteed a minimum profit of ₹ 10,000 every year
Solution:- 1st Year 2nd Year
Adil, Bilal, and Ramiz are in partnership sharing profits and losses in the ratio of 4 : 2 : 1 respectively. It was provided that Ramiz’s share in profits would not be less than ₹ 7,500 in a year
Solution:-
Pony, Sony, and Johny were in a partnership which they began on 1st April 2022 with capital contributions of ₹ 80,000; ₹ 55,600, and ₹ 31,800
Solution:-
Roli and Moli started a partnership business on 1st April 2022 and contributed ₹ 2,00,000 and ₹ 1,50,000 respectively as their capital. The terms of the partnership agreement are given below
Solution:- Case – I (Fluctuating Capital Method)   Case – 2 (Fixed Capital Method)    Working Notes:- Calculation of General Reserve 20% of Net Profit 313437 × 20/100 = ₹ 62687.4 Calculation of Interest on Drawings Roli:-…
Anil and Sunil are partners in a firm sharing profits and losses in a ratio of 3 : 2. on 1st April 2022 their fixed capitals were ₹ 18,00,000 and ₹ 15,00,000 respectively
Solution:-
Ashish and Naresh are equal partners. The balances of their Capital Accounts as at 1st April 2022 were: Ashish – ₹ 30,000 and Naresh – ₹ 20,000. The Partnership Deed provides for the following:
Solution:-