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Category [ISC] Fundamentals of Partnership

[ISC] Fundamentals of Partnership 99 Questions

0 Votes 1 Ans

Nimrat and Deep are partners having capitals as on 1st April, 2023 as Nimrat – ₹ 4,80,000 and Deep as ₹ 1,00,000 (Debit)

787 viewsAnurag Pathak Answered question June 19, 2024[ISC] Fundamentals of Partnership

0 Votes 2 Ans

Mahi, Virat and Ishant are partners in Sports goods business sharing profits and losses in the ratio of 2 : 2 : 1. Ishant is guaranteed profit of ₹ 5,00,000 per annum by Mahi and Virat

842 viewsAnurag Pathak Changed status to publish April 27, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Anil and Sunil are partners sharing profits and losses in the ratio of 3 : 1. On 1st April 2023, their capitals were: Anil ₹ 1,50,000 and Sunil ₹ 90,000

934 viewsAnurag Pathak Changed status to publish April 27, 2024[ISC] Fundamentals of Partnership

0 Votes 1 Ans

Nihar and Ashish started business on 1st April, 2023 with fixed capitals of ₹ 5,00,000 each. On 1st October, 2023, they decided that total fixed capital of the firm ₹ 15,00,000 should be in their profit sharing ratio of 4 : 1

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

0 Votes 1 Ans

Ajay, Bijay, and Chandan are partners in a firm with capitals of ₹ 1,50,000; ₹ 1,20,000, and ₹ 90,000 respectively. Their Partnership Deed provides as follows:

3.10K viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Tara and Mira are in partnership sharing profits in the ratio of 3 : 2. According to the Partnership Deed, Tara is to get salary of ₹ 10,000 per month

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

0 Votes 1 Ans

Amrit and Kamal started business on 1st April, 2023 with capitals of ₹ 10,00,000 and ₹ 5,00,000 respectively. Kamal withdrew ₹ 12,000 in the middle of each month

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

0 Votes 1 Ans

Firoz and Asim started business on 1st June, 2023 with capitals of ₹ 5,00,000 and ₹ 2,50,000 respectively. Firoz withdrew ₹ 12,000 at the end of each month

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

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

662 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

690 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

840 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

484 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

866 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)

725 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

816 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:

2.26K 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

583 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

1.05K 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

679 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

556 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

843 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

766 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

859 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

691 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

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

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