On 1st April, 2023 A and B commenced business with Capitals of ₹ 6,00,000 and ₹ 2,00,000 respectively. On 31st March, 2024 the net profit (before taking into account the provisions of deed) was ₹ 2,40,000
Solution:-
Commerce School
Student Community
Archives Answers
Answer
X, Y and Z are partners in a firm. Their Capitals as on April 1, 2022 were ₹ 5,00,000; ₹ 4,00,000 and ₹ 3,00,000 respectively. On July 1, 2022 they introduced further Capitals of ₹ 1,00,000; ₹ 80,000 and ₹ 50,000 respectively
Solution:-
Girish and Satish are partners in a firm. Their Capitals on April 1, 2023 were ₹ 5,60,000 and ₹ 4,75,000 respectively. On August 1, 2023 they decided that their Capitals should be ₹ 5,00,000 each
Solution:-
X and Y are partners sharing profits in the ratio of 2 : 1. The undermentioned trial balance was extracted from their books as at 31st March, 2024:
Solution:-
X and Y are partners in a firm. They do not have any partnership deed. What should be done in the following cases
Solution:- Solution:- (a) No Interest on Capital is allowed Reason:- In the absence of a partnership deed. The provisions of the Indian Partnership Act, 1932 applied and No Interest is allowed on Partner’s Capital. (b) X is not entitled to…
Alfa Ltd. was formed with a Capital of ₹ 70,00,000 divided into 70,000 equity shares of ₹ 100 each. The company allotted 1,000 equity shares of ₹ 100 each as fully paid to the subscribers
Solution:-
A business has earned average profit of ₹ 1,20,000 during the last four years and the normal rate of return of similar business is 15%. If goodwill of the firm is valued at ₹ 1,35,000 at 3 year’s purchase of average super profit
Solution:-
A business earned an average profit of ₹ 1,80,000 during the last few years. Average capital employed by the firm is ₹ 12,50,000. If goodwill of the firm is valued at ₹ 1,60,000
Solution:-
From the information given below, find the average profits of the partnership firm of Sudhir and Sana:
Solution:-
A and B were partners in a firm sharing profits equally. Their capitals were: A – ₹ 1,20,000 and B – ₹ 80,000. The annual rate of interest is 20%. Profits of the firm for the last three years were ₹ 34,000; ₹ 38,000 and ₹ 30,000
Solution: