P and Q were partners in a firm sharing profits in 7 : 3 ratio. Their fixed capitals were P ₹ 5,00,000 and Q ₹ 8,00,000. For the year ended 31st March, 2024, interest on capital was credited @ 12% instead of 10%
Solution:-
Commerce School
Student Community
Archives Answers
Answer
Raja, Roopa and Mala sharing profits and losses equally have fixed capitals of ₹ 12,00,000, ₹ 9,00,000 and ₹ 6,00,000 respectively
Solution:-
Arun and Arora were partners in a firm sharing profits in the ratio of 5 : 3. Their fixed capitals on 1.4.2023 were : Arun ₹ 60,000 and Arora ₹ 80,000
Solution:-
X, Y and Z contribute ₹ 3,00,000, ₹ 2,00,000 and ₹ 1,00,000 respectively by way of capital on which they agree to allow interest at 12% p.a
Solution:-
Charu and Suruchi are partners in a firm. Suruchi withdrew ₹ 12,000 in the beginning of each quarter and interest on drawings
Solution:-
Era, a partner withdrew ₹ 40,000 per month for her personal use from the firm in the beginning of each month
Solution:-
Seema and Tina are partners in a firm. Interest on drawings is charged @ 10% p.a. You are required to calculate the amount of drawings of each partner in the following cases
Solution:-
Calculate the interest on Drawings of Garmia @ 9% p.a., if she withdrew ₹ 4,000 p.m. for six months ending 31st March, 2024
Solution:-
Calculate the interest on Drawings of Esha @ 9% p.a., if she withdrew ₹ 4,000 p.m. on the last day of every month for six months ending 31st March, 2024
Solution:-
Calculate the interest on Drawings of Divya @ 9% p.a. if she withdrew ₹ 4,000 p.m. on the first day of every month for six months ending 31st March
Solution:-