Prepare Accounting Equation from the following Sandeep started business with Cash 1,00,000
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Maanika, Bhavi and Komal are partners sharing profits in the ratio of 6 : 4 : 1. Komal is guaranteed a minimum profit of ₹ 2,00,000
Solution:-
A, B and C are partners sharing profits in the ratio of 5 : 4 : 1. C is given a guarantee that his share of profits in any year will not be less than ₹ 20,000
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A, B and C are partners in a firm sharing profits in the ratio of 2 : 2 : 1. According to the terms of the partnership agreement C has to get a minimum of ₹ 6,000 irrespective of the profits of the firm
Solution:- 1st Method: 2nd Method:
X, Y and Z are partners sharing profits and losses in the ratio of 3 : 2 : 1 with a minimum profit of ₹ 1,00,000 for Z . the profits for the year ended March 31, 2023 amounted to ₹ 4,80,000
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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 31-3-2016:
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A, B and C were partners in a firm. On 1st April, 2021 their capitals stood as ₹ 5,00,000; ₹ 2,50,000 and ₹ 2,50,000 respectively. As per provisions of the partnership deed
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Alex, John and Sam are partners in a firm. Their capital accounts on 1st April, 2021, stood at ₹ 1,00,000, ₹ 80,000 and ₹ 60,000 respectively
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Prem, Param and Priya were partners in a firm. Their fixed capitals were Prem ₹ 2,00,000; Param ₹ 3,00,000 and Priya ₹ 5,00,000. They were sharing profits in the ratio of their capitals
Solution:-
A and B are partners in a business. Their capitals at the end of the year were ₹ 6,40,000 and ₹ 4,60,000 respectively. During the year ending 31st March, 2024, A’s drawings and B’s drawings were ₹ 1,20,000 and ₹ 1,40,000 respectively
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