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Category Accountancy Class 12th

Accountancy Class 12th 922 Questions

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0 Votes 1 Ans

Pawan and Param started business on 1st July, 2023 with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Pawan withdrew ₹ 18,000 per quarter at the end

746 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Raman and Karan are in partnership from 1st April, 2023 with capitals of ₹ 10,00,000 each. Raman withdrew equal amount at the middle of every month starting

777 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Raj and Kiran are in partnership from 1st June, 2023 with capitals of ₹ 6,00,000 and ₹ 4,00,000 respectively. Raj withdrew same amount in the beginning of

937 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Ramesh and Pradeep are in partnership from 1st July, 2023 with capitals, Ramesh ₹ 3,00,000 and Pradeep ₹ 2,00,000

535 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Amar and Nimrat are partners in a firm, Amar withdraws ₹ 5,000 in the beginning of the month starting from 1st April, 2023 for 6 months

944 viewsAnurag Pathak Changed status to publish April 23, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Ranjan and Pankaj are partners having balances in current accounts as on 1st April, 2023 as Ranjan ₹ 3,00,000 and Pankaj as ₹ 2,00,000 (Debit)

804 viewsAnurag Pathak Changed status to publish April 23, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Amrik and Avtar are partners having capitals as on 1st April, 2023 as Amrik – ₹ 2,40,000 and Avtar as ₹ 1,20,000 (Debit). On 1st September

923 viewsAnurag Pathak Changed status to publish April 23, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

From the following Balance Sheet of Sujata and Swati, Calculate interest on capital @ 5% p.a. for the year ended 31st March 2023:

2.40K viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Arun and Barun started business on 1st April, 2023. From the following Balance Sheet of Arun and Barun and Additional information, Calculate interest on capital @ 6% p.a

660 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Karman, Harman and Shravan were sharing profits and losses in the ratio of 5 : 3 : 2. They introduced capitals in their profit sharing ratio

1.15K viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Kashish, Amit and Kaushal started a firm on 1st October, 2024 sharing profits and losses in the ratio of 3 : 2 : 1. They introduced capitals in their profit sharing ratio

759 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Chirag and Ashish were partners sharing profits in the ratio of 3 : 2. Their capitals as on 1st April, 2023 were ₹ 5,00,000 and ₹ 4,00,000 respectively

640 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

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

950 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

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

846 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

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

942 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

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

779 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Puneet and Sahil are partners sharing profits and losses equally. They had opening credit balance in their Loan Accounts of ₹ 9,00,000 each

842 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

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

988 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

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

896 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Alex, John, and Sam are partners in a firm. Their capital accounts on 1st April 2015, stood at ₹ 1,00,000; ₹ 80,000, and ₹ 60,000 respectively. Each partner withdrew ₹ 5,000 during the financial year

4.55K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Anup, Babu, and Roop were partners. Their capitals were Anup ₹ 30,000; Babu ₹ 20,000 and Roop ₹ 10,000. According to the Partnership Deed, they were to get interest on capital @ 5% p.a.

2.97K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

The capitals of Madan, Krishna, and Ram as on 31st March 2023 were ₹ 30,000, ₹ 1,10,000, and ₹ 2,20,000 respectively. The profit of ₹ 60,000 for the year 2022-23 was distributed in the ratio of 4 : 1 : 1 after allowing interest on capital @ 10% p.a

4.06K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Shiv and Shankar were partners in a firm sharing profits in 3 : 2 ratio. Their fixed capitals were ₹ 1,70,000 and ₹ 2,10,000 respectively. The Partnership Deed provides for the following:

3.50K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Ajit, Harish, and Ganesh were partners in a firm. On 1st April 2022, their capitals stood at ₹ 50,000; ₹ 25,000, and ₹ 25,000 respectively. As per the provisions of the Partnership Deed:

3.35K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Gaurav, Sourav, and Vivian are partners in a firm. Though the Partnership Deed did not provide for interest on capital, Yet it was allowed to the partners @ 5% p.a. for the two years ended on 31st March 2022 and 31st March 2023.

3.36K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

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