Anita and Ankita are partners sharing profits equally. Their capitals, maintained following Fluctuating Capital Accounts Method, as on 1st April 2022 were ₹ 5,00,000 and ₹ 4,00,000 respectively
Solution:- 1st Method: 2nd Method:
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Ashish and Aakash are partners sharing profits in the ratio of 3 : 2. Their Capital Accounts had credit balances of ₹ 5,00,000 and ₹ 6,00,000 respectively
Solution:- Alternative for Journal entry:- Working Notes:-
Naresh and Sukesh are partners with Capitals of ₹ 3,00,000 each as on 31st March, 2023. Naresh and withdrew ₹ 50,000
Solution:- Alternative for Journal entry:
On 1st April 2013, Jay and Vijay entered into a partnership for supplying laboratory equipments to government schools situated in remote and backward areas
Solution:-
A and B are partners in the ratio of 3 : 2. The firm maintains Fluctuating Capital Accounts and the balance of the same as on 31st March
Solution:-
Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March 2023:
Solution:-
From the following Balance Sheet of Long and Short, Calculate interest on capital @ 8% p.a. for the year ended 31st March 2023.
Solution:-
Amit and Bramit started business on 1st April 2022 with capitals of ₹ 15,00,000 and ₹ 9,00,000 respectively
Solution;-
Moli and Bholi contribute ₹ 20,000 and ₹ 10,000 respectively towards capital. They decide to allow interest on capital @ 6% p.a
Solution:-
Shiv, Mohan, and Gopal are partners sharing profits and losses in the ratio of 2 : 2 : 1. Shiv is entitled to a commission of 10% on the net profit
Solution:-