Pass the Journal entries in the books of G & Co, for the following Firm took property of Amrit, a partner at a monthly rent of ₹ 20,000 w.e.f 1st June
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Kashish and Harish are partners in a firm sharing profits in the ratio of 3 : 2 with capitals of ₹ 5,00,000 each. Kashish was given loan of ₹ 2,00,000 on 1st October
Solution:- Case – I Note:- Interest is not charged on the Interest on Loan to partners if it is not mentioned in the partnership deed and not agreed upon among partners. Case – II Note:- If the rate of Interest…
Kabir, Krish and Harsh are partners in a firm. Kabir and Harsh had opening credit balance in their Loan Accounts of ₹ 4,80,000 each
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Yogesh, Naresh and Mahesh are partners sharing profits and losses equally. Yogesh and Mahesh had opening credit balance in their Loan Accounts of ₹ 3,00,000 each
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Puneet and Sahil are partners sharing profits and losses equally. They had opening credit balance in their Loan Accounts of ₹ 9,00,000 each
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Raman and Pawan are partners sharing profits and losses in the ratio of 2 : 3. They had opening credit balance in their Loan Accounts of ₹ 5,00,000 and ₹ 4,00,000 respectively
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Chandan and Gurman are partners sharing profits and losses in the ratio of 2 : 3. They had opening credit balance in their Loan Accounts of ₹ 5,00,000 and ₹ 4,00,000 respectively
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Simrat and Nimrat are partners since 1st April 2022 without a Partnership Deed and they introduced capitals of ₹ 1,00,000 and ₹ 80,000 respectively.
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Asha, Disha and Raghav were partners in a firm sharing profits in the ratio of 2 : 3 : 1. According to the partnership agreement
Solution:- 1st Method:- Working Notes:- 2nd Method: Working Notes:-
Aditi, Bobby and Krish were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. Their capitals were ₹ 5,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively
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