Questions Ask question Search Order By: ActiveCategoryClear Filter 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. 8.55K 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 11.96K 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. 8.32K 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. 4.99K 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: 4.56K 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 4.39K 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. 11.55K 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. 7.37K 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: 9.21K 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. 7.69K 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? 8.27K 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? 3.38K 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 2.87K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans When interest on capital is allowed to partners, Interest on Capital Account is debited and Partner’s Capital Account is credited, it is called 3.78K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Interest on Partners’ Drawings is credited to 3.09K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Define Partnership 3.05K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Distinguish between ‘Fixed Capital Account’ and Fluctuating Capital Account’ on the basis of credit balance. 3.56K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is meant by ‘Fluctuating Capital’ of a Partner? 3.30K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is Meant by ‘Fixed Capital’ of a Partner? 3.08K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans X and Y are partners. y wants to admit his son K into business. Can K become the partner of the firm without the consent of X? 3.44K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Why is it considered better to make a partnership agreement in writing? 3.28K 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. 6.04K 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: 3.14K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Neha, a partner, owns a building from where the firm carries its business. The firm pays her ₹ 10,000 as the rent for the building. Will it be transferred to Profit & Loss Account or Profit & Loss Appropriation Account? Why? 5.41K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is a Partnership Deed? 3.19K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th « Previous 1 2 … 183 184 185 186 187 188 189 Next » Search questions Search Questions Sahaj and Nimish entered into partnership on 1st April, 2025 without a partnership deed. They introduced capital of 5,00,000 and 3,00,000 respectively 1 Answer | 0 Votes Taran and Deep are partners sharing the profits and losses in the ratio of 2 : 3 with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively 1 Answer | 0 Votes Puneet and Sahil are partners sharing profits and losses equally. They had opening credit balance in their Loan Accounts of ₹ 9,00,000 each 1 Answer | 0 Votes Raman and Pawan are partners sharing profits and losses in the ratio of 3 : 2. Raman being a non-working partner contributes ₹ 50,00,000 as capital 1 Answer | 0 Votes Raman and Pawan are partners sharing profits and losses in the ratio of 2 : 3. They had opening credit balance in their Loan Accounts of ₹ 5,00,000 and ₹ 4,00,000 respectively 1 Answer | 0 Votes Bani, Rani, and Mani are partners sharing profits and losses in the ratio of 3 : 2 : 1. Bani and Mani granted loans to the firm on 1st October 2022 of ₹ 2,00,000 and ₹ 3,00,000 respectively 1 Answer | 0 Votes Nirmal and Pawan are partners sharing profits in the ratio of 3 : 2. The firm had given a loan to Pawan of ₹ 5,00,000 on 1st April 1 Answer | 0 Votes Akhil, Sunil, and Parvesh are partners sharing profits in the ratio of 3 : 2 : 1. Sunil had given a loan to the firm on 1st November 2022 of ₹ 4,00,000 1 Answer | 0 Votes Bat and Ball are partners sharing the profits in the ratio of 2 : 3 with capitals of ₹ 1,20,000 and ₹ 60,000 respectively 1 Answer | 0 Votes Akhil and Bimal are partners sharing profits in the ratio of 3 : 2. Akhil gave a loan to the firm of ₹ 1,00,000 on 1st October 2022 1 Answer | 0 Votes Question and answer is powered by anspress.net
