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Category [CBSE] Fundamentals of Partnership Firm

[CBSE] Fundamentals of Partnership Firm 234 Questions

3 Sub Categories

0 Votes 1 Ans

The capital accounts of Tisha and Divya showed credit balances of ₹ 10,00,000 and ₹ 7,50,000 respectively

6.58K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Calculate interest on drawings of Sanjay @ 10% p.a. for the year ended 31st March 2023, in each of the following alternative cases:

4.28K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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B and C are partners sharing profits equally. C regularly withdrew ₹ 5,000 per month in the beginning of the month

6.84K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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A and B are partners sharing profits equally. A drew regularly ₹ 4,000 at the end of every month for six months ended 30th September

2.72K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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A and B are partners sharing profits equally. A drew regularly ₹ 4,000 in the beginning of every month for six months ended 30th September

3.02K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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One of the partners in a partnership firm has withdrawn ₹ 9,000 at the end of each quarter, throughout the year

2.90K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Dev withdrew ₹ 10,000 on the 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s Drawings.

6.92K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Brij and Mohan are partners in a firm. They withdrew ₹ 48,000 and ₹ 36,000 respectively during the year evenly in the middle of every month

2.57K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Ram and Mohan, two partners, drew for their personal use ₹ 1,20,000 and ₹ 80,000. Interest is chargeable @ 6% p.a. on the drawings

2.15K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

X and Y are partners in a firm. X is entitled to a salary of ₹ 10,000 per month and a commission of 10% of the net profit after the partner’s salaries but before charging the commission

4.34K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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A, B and C, and D are partners in a firm sharing profits in the ratio of 4 : 3 : 2 :1. The firm earned a net profit of ₹ 1,80,000 for the year ended 31st March 2023

2.63K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Abha, Bobby, and Vineet are partners sharing profits and losses equally. As per Partnership Deed, Vineet is entitled to a commission of 10% on

4.24K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Shiv, Mohan, and Gopal are partners sharing profits and losses in the ratio of 2 : 2 : 1. Shiv is entitled to a commission of 10% on the net profit

3.48K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Moli and Bholi contribute ₹ 20,000 and ₹ 10,000 respectively towards capital. They decide to allow interest on capital @ 6% p.a

4.38K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Amit and Bramit started business on 1st April 2022 with capitals of ₹ 15,00,000 and ₹ 9,00,000 respectively

3.97K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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From the following Balance Sheet of Long and Short, Calculate interest on capital @ 8% p.a. for the year ended 31st March 2023.

3.89K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March 2023:

3.85K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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A and B are partners in the ratio of 3 : 2. The firm maintains Fluctuating Capital Accounts and the balance of the same as on 31st March

6.34K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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On 1st April 2013, Jay and Vijay entered into a partnership for supplying laboratory equipments to government schools situated in remote and backward areas

3.34K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Naresh and Sukesh are partners with Capitals of ₹ 3,00,000 each as on 31st March, 2023. Naresh and withdrew ₹ 50,000

4.86K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Ashish and Aakash are partners sharing profits in the ratio of 3 : 2. Their Capital Accounts had credit balances of ₹ 5,00,000 and ₹ 6,00,000 respectively

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0 Votes 1 Ans

Anita and Ankita are partners sharing profits equally. Their capitals, maintained following Fluctuating Capital Accounts Method, as on 1st April 2022 were ₹ 5,00,000 and ₹ 4,00,000 respectively

3.22K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Simran and Reema are partners sharing profits in the ratio of 3 : 2. Their capitals as on 1st April 2022 were ₹ 2,00,000 each

4.49K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Amit and Sumit entered into a partnership on 1st April 2022 and invested ₹ 1,50,000 and ₹ 2,50,000 respectively as capital

6.32K viewsAnurag Pathak Changed status to publish April 11, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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Bhanu and Partap are partners sharing profits equally. Their fixed capitals as on 1st April 2022 were ₹ 8,00,000 and ₹ 10,00,000 respectively

5.04K viewsAnurag Pathak Changed status to publish April 10, 2024[CBSE] Fundamentals of Partnership Firm [CBSE] TS Grewal Solutions Accountancy Class 12th

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