Commerce School

Student Community

YOUTUBE CHANNELSubscribe

Telegram Channel

Commerce School

Student Community

Telegram Channel

YOUTUBE CHANNELSubscribe

Category [ISC] Fundamentals of Partnership

[ISC] Fundamentals of Partnership 99 Questions

0 Votes 1 Ans

Vicky, Vijay, and Veenu are partners sharing profits in the ratio of 5 : 4 : 1, Veenu is given a guarantee that his minimum share of profit in any given year would be at least ₹ 5,000

2.39K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Aarav, Prithvi and Saksham are partners in a firm. Their profit sharing ratio is 2 : 2 : 1. Saksham is guaranteed a minimum profit of ₹ 10,000 every year

2.41K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Adil, Bilal, and Ramiz are in partnership sharing profits and losses in the ratio of 4 : 2 : 1 respectively. It was provided that Ramiz’s share in profits would not be less than ₹ 7,500 in a year

2.54K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Pony, Sony, and Johny were in a partnership which they began on 1st April 2022 with capital contributions of ₹ 80,000; ₹ 55,600, and ₹ 31,800

3.42K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Roli and Moli started a partnership business on 1st April 2022 and contributed ₹ 2,00,000 and ₹ 1,50,000 respectively as their capital. The terms of the partnership agreement are given below

4.49K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Anil and Sunil are partners in a firm sharing profits and losses in a ratio of 3 : 2. on 1st April 2022 their fixed capitals were ₹ 18,00,000 and ₹ 15,00,000 respectively

4.48K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Ashish and Naresh are equal partners. The balances of their Capital Accounts as at 1st April 2022 were: Ashish – ₹ 30,000 and Naresh – ₹ 20,000. The Partnership Deed provides for the following:

3.07K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Arti, Bharti, and Kirti are partners sharing profits and losses in the proportion of Arti 1/2, Bharti 3/10, Kirti 1/5 after providing for the interest @ 5% p.a

3.38K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

On 1st April 2022, Lal, Bal, and Pal enter into a partnership contributing ₹ 2,50,000; ₹ 1,30,000, and ₹ 1,20,000 respectively, and sharing profits and losses in the ratio of 5 : 3: 2

2.89K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Ankit and Bimla are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 50,000 and ₹ 30,000 respectively. Interest on capital is agreed @ 6% p.a

2.81K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Anju, Manju, and Sanjay are in partnership with capitals as on 1st April 2022 of ₹ 4,80,000 (credit), ₹ 4,00,000 (credit), and ₹ 32,000 (Debit) respectively. They share profits in the ratio of 2 : 1 : 1

4.10K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Sudha, Shakti, and Savita are partners sharing profits and losses in the proportion of 2/5 : 1/5. Sudha draws ₹ 12,000 every month

4.48K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Anil and Bindoo are partners sharing profits and losses in the ratio of 3 : 1. On 1st April 2022, their capitals were

2.82K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Shashi, Santosh, and Shanta are in partnership, and as at 1st April 2022, their respective capitals were: ₹ 40,000, ₹ 30,000, and ₹ 30,000

3.28K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Yogi and Hari are in partnership sharing profits and losses in the ratio of 3 : 1. On 1st April 2021, their capitals were ₹ 2,00,000 and ₹ 1,80,000. The terms of their partnership are as follows:

4.70K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Show how the following will be shown in the Capital Accounts of the partner’s John and Mathew when their capitals are fluctuating:

1.45K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Abhay, Amit, and Ankit are partners in a firm sharing profits in the ratio of 2 : 2 : 1. Fixed Capitals as on 1st April 2022 of the partners were:

2.23K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Simran and Puneet are partners sharing profits equally. Their capitals as at 1st April 2022 stood at ₹ 5,00,000 and ₹ 4,00,000 respectively

2.56K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Akriti, Bhawna, Charu, and Deeksha are partners sharing profits as 4 : 3 : 2 :1. They earned a profit of ₹ 1,80,000 for the year ended 31st March 2023

2.15K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Mina, Shina, and Tina are in partnership and during the year ended 31st March 2023 earn a profit of ₹ 1,04,000. Mina and Shina are to get 5% p.a. interest on their capitals of ₹ 1,20,000 and ₹ 2,00,000 respectively

2.65K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Amar and Anthony are partners in a firm. Amar is entitled to a salary of ₹ 20,000 per month and a commission of 10% of the net profit before charging any commission

3.34K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Harish, Paresh, and Ramesh are partners and withdrew ₹ 12,000 per month on regular basis for the first six months of the financial year. Harish withdrew at the beginning of the month

1.74K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Calculate the interest on Amar’s drawings @ 5% if he withdrew ₹ 5,00,000 during the year.

1.98K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Calculate the interest on drawings of Raj @ 5% p.a. for the year ended 31st March 2023 in each of the following alternatives cases

1.71K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

0 Votes 1 Ans

Akshay and Rajesh are partners sharing profits and losses equally with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Their drawings during the year are: Akshya’s drawings on:

2.48K viewsAnurag Pathak Changed status to publish April 20, 2024[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

« Previous 1 2 3 4 Next »

Question and answer is powered by anspress.net