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Category [CBSE] Fundamentals of Partnership Firm

[CBSE] Fundamentals of Partnership Firm 246 Questions

3 Sub Categories

0 Votes 1 Ans

Simrat and Bir are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March 2023 after closing the books of account

13.44K 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, Mohan, and Sohan were partners sharing profits in the ratio of 2 : 1 : 1. Ram withdrew ₹ 3,000 every month

15.50K 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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Profit earned by a partnership firm for the year ended 31st March 2023 was distributed equally between the partners – Pankaj and Anu – without charging interest on Drawings. Interest due on Drawings was Pankaj – ₹ 3,000 and Anu – ₹ 1,000.

9.57K 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

Ram, Mohan, and Sohan sharing profits and losses equally have capitals of ₹ 1,20,000, ₹ 90,000, and ₹ 60,000 respectively

11.21K 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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Azad and Benny are equal partners. Their capitals are ₹ 40,000 and ₹ 80,000 respectively. After the accounts for the year had been prepared

8.71K 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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Reya, Mona, and Nisha shared profits in the ratio of 3 : 2 : 1. Profits for the last three years were ₹ 1,40,000; ₹ 84,000, and ₹ 1,06,000 respectively

10.82K 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 entered into a partnership on 1st April 2018. Their capitals as on 1st April 2022 were ₹ 2,00,000 and ₹ 1,50,000 respectively

12.18K 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

Ali and Bahadur are partners in a firm sharing profits and losses as Ali 70% and Bahadur 30%. Their respective capitals as at 1st April

11.85K 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

Sajal and Kajal are partners sharing profits and losses in the ratio of 2 : 1. on 1st April 2022, their capitals were: Sajal ₹ 5,00,000 and Kajal ₹ 4,00,000

14.08K 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

Amit, Binita, and Charu are the three partners. On 1st April 2022, their capitals stood as: Amit ₹ 1,00,000, Binita ₹ 2,00,000, and Charu ₹ 3,00,000. It was decided that:

10.93K 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 were partners in a firm having capitals of ₹ 50,000; ₹ 50,000, and ₹ 1,00,000 respectively

9.43K 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

A and B are partners sharing profits and losses in the ratio of 3 : 1. On 1st April 2022, their capitals were: A ₹ 5,00,000 and B ₹ 3,00,000

15.07K 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

Amit and Vijay started a partnership business on 1st April 2022. Capital invested by them were ₹ 2,00,000 and ₹ 1,50,000 respectively

9.91K 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

Calculate the Rate of interest on Drawings of Mohan in the following cases:

9.85K 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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Piyush, Harmesh, and Atul are partners. Each partner regularly withdrew ₹ 20,000 per month is given below.

11.57K 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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Calculate the amount of Shiv’s quarterly drawings for the year ended 31st March 2023, in the following

11.34K 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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Calculate the amount of Manan’s monthly drawings for the year ended 31st March 2023, in the following alternatives cases

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A, B, and C are partners. During the year ended 31st March 2023, each of the partners withdrew ₹ 10,000 regularly. A withdrew in the beginning of the first 6 months

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

12.88K 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

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

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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

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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

5.89K 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

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

7.31K 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

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

6.83K 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

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.

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