Category [CBSE] TS Grewal Solutions [CBSE] TS Grewal Solutions 804 Questions 11 Sub Categories[CBSE] Admission of Partner(141)[CBSE] Comparative and Common Size Statement(27)[CBSE] Death of Partner(41)[CBSE] Dissolution of Partner(55)[CBSE] Fundamentals of Partnership Firm(241)[CBSE] Issue of Debenture(58) Ask question Search Order By: ActiveClear Filter 0 Votes 1 Ans If the equal amount is withdrawn at the beginning of each month for personal use, the period for which interest will be charged will be 1.35K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans The product method is used for the calculation of 2.23K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Partner’s Drawing Account is closed 1.88K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Mohan, Mayank, and Madan are partners, their Partnership Deed provides for interest on drawings at 8% p.a., Mayank withdrew a fixed amount in the middle of every month and his interest on drawings amounted to ₹ 24,000 at the end of the year. What was the amount of his monthly drawings? 4.78K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Ramesh, Rahul and Raman are partners. Raman withdrew ₹ 20,000 per month in the middle of the month. Interest on drawings charged for the year was ₹ 7200. The rate of interest on drawings is 3.27K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Interest on the capital of a partner is a 1.36K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Mohan, a partner, withdraws ₹ 20,000 on 1st April 2022 and ₹ 40,000 on 1st October 2022. Interest on Drawings @ 6% p.a. on 31st March 2023 will be 5.53K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans When a guarantee is given to a partner by some partners, deficiency on such guarantee is borne by 1.67K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Which of the following items is not dealt through the Profit and Loss Appropriation Account? 1.72K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Which of the following will not be shown in the debit of the Profit and Loss Appropriation Account? 1.44K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Sohan and Mohan are partners sharing profits and losses in the ratio of 2:3 with capitals of ₹ 5,00,00 and ₹ 6,00,000 respectively. On 1st January 2022, Sohan and Mohan granted loans of ₹ 20,000 and ₹ 10,000 respectively to the firm. 5.63K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Vidit and Seema were partners in a firm sharing profits and losses in the ratio of 3:2. Their capitals were ₹ 1,20,000 and ₹ 2,40,000 respectively. They were entitled to interest on capital @ 10%. The firm earned profit of ₹ 18,000 during the year. The interest on Vidit’s capital will be 8.88K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans A and B are partners with capitals of ₹ 2,00,000 and ₹ 1,00,000 respectively. Interest payable on capital is 10% p.a. Determine the amount of appropriation of each partner when the profit earned by the firm is ₹ 24,000. 5.41K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans A, B, and C are partners sharing profits in the ratio of 5:4:1. C is given a guarantee that his share in a year will not be less than ₹ 50,000. Profit for the year ended 31st March 2023 is ₹ 4,00,000. 2.39K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Pawan, manager of the firm, is admitted as partner w.e.f 1st April 2022 to manage the business. The salary paid to him during the year ended 31st March 2023 will be 2.21K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Vihaan and Mann are partners sharing profits and losses in the ratio of 3:2. The firm maintains fluctuating capital accounts and the balance of the same as of 31st March 2022 is ₹ 4,00,000 and ₹ 4,65,000 for Vihaan and Mann respectively. 7.89K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans A, B, and C are partners. A’s Capital is ₹ 3,00,000 and B’s Capital is ₹ 1,00,000. C has not invested any amount as capital but he alone manages the whole business. C wants ₹ 30,000 p.a. as salary, though the deed is silent. 4.40K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Choose the correct sequence of the following transactions in the context of the Division of Profits: 2.19K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans The partners of a firm distributed the profits for the year ended 31st March 2023, ₹ 4,50,000 in the ratio of 3:2:1 without providing for the following adjustments: 5.77K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Shiv and Mohan are two partners sharing profits and losses in the ratio of 3:2. On 31st March 2023, their capital Accounts stood at ₹ 55,000 and ₹ 45,000 after distribution of net profit of ₹ 15,000 and due consideration of drawings of the partners for ₹ 6,000 and ₹ 4,000 respectively. 5.24K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Girdhar, a partner withdrew ₹ 5,000 at the beginning of each quarter and interest on drawings was calculated as ₹ 1,500 at the end of the accounting year 31st March 2022. What is the rate of interest on drawings charged? 5.27K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Adil, Bhavya, and Chris are partners sharing profits in the ratio of 5:4:1. Chris is given a guarantee that his share of profit in any year will not be less than ₹ 5,000. The deficiency in the profit share of Chris will be borne by Bhavya. 3.82K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Choose the correct sequence of the following transactions in the context of the Division of Profits: 1.44K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Which of the following is transferred to the Profit and Loss Appropriation Account? 1.54K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans If the fixed amount is withdrawn on the last day of every month of a calendar year, interest on total amount of drawings will be calculated for 1.24K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th « Previous 1 2 … 37 38 39 40 41 42 43 Next » Question and answer is powered by anspress.net
