WebbSimran and Reema are partners sharing profits in the ratio of 3:2. Their capitals as on 31st March, 2024 were Rs.2,00,000each whereas Current Accounts had balances of … WebbSimran and Reema are partners sharing profits in the ratio of 3: 2. Their capitals as on 31st March, 2024 were 2,00,000 each whereas Current Accounts had balances of 50,000 and …
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WebbOf the divisible profits, P is entitled to 50% the first Rs. 10,000, Q to 30% and R to 20%, rest of the profits are shared equally. Profits for the year ended the 31st March 2024, after debiting partners' salaries but before charging interest on capital was Rs. 21,000 and the partners had drawn Rs. 10,000 each on account of salaries, interest and profit. Webba P is bound to pay Rs 20,000 together with profit of Rs 5,000 to the firm because this amount belongs to the firm. Explanation: As per Principal and Agent relationship, P is principal as well as agent to the firm and to Q and R. As per this rule, any profit earned by an agent P by using the firm’s property is attributable to the firm.
WebbQ. Simran and Reema are partners sharing profits in the ratio of 3:2. Their capitals as on 31st March, 2024 were Rs.2,00,000 each whereas Current Accounts had balances of … Webb31 aug. 2024 · Atul and Mithun are partners sharing profits in the ratio of 3: 2. Balances as on 1st April, 2024 were as follows: Capital Accounts (Fixed): Atul -5,00,000 and Mithun-6,00,000. Loan Accounts: Atul-3,00,000 (Cr.) and Mithun-2,00,000 (Dr.)
Webb11 dec. 2024 · Reema and Seema are partners sharing profits and losses in the ratio of 4:1 . They decide to share profit in the ratio of 3:2 w.e.f 1st April , 2024. Howere, the decision … WebbSimran and Reema are partners sharing profits in the ratio of 3 : 2. Their capitals as on 31st March, 2024 were ` 2,00,000 each whereas Current Accounts had balances of ` …
WebbTo Simran’s Current A/c 1,68,000 To Reema’s Current A/c 1,12,000 (Profit transferred to Partner’s Current A/c) In a partnership, parties who are referred to as business partners agree to work together to further their shared Assets objectives.
WebbX, Y and Z entered into partnership on 1st October, 2024 to share profits in the ratio of 4 : 3 : 3. X, personally guaranteed that Z's share of profit after charging interest on capital @ 10% p.a. would not be less then ₹ 80,000 in any year.Capital contributions were: X – ₹ 3,00,000, Y – ₹ 2,00,000 and Z – ₹ 1,50,000. Profit for the year ended 31st March, 2024 … can ab workouts cause bloatingWebb22 aug. 2024 · Amit and Viney are partners in a firm sharing profits and losses On 1.1.2007 they admitted Ranjan as a partner. asked Mar 16, 2024 in Accounts by SonaSingh ( 64.7k points) reconstitution of partnership firm fish cage farmingWebb20 aug. 2024 · Ashish and Aakash are partners sharing profit in the ratio of 3 : 2. Their Capital Accounts showed a credit balance of Rs. 5,00,000 and Rs. 6,00,000 respectively as on 31st March, 2024 after debit of drawings during the year of Rs. 1,50,000 and Rs. 1,00,000 respectively. Net profit for the year ended 31st March was Rs. 5,00,000. fish cageWebb21 aug. 2024 · P and Q were partners sharing profits and losses in 2:1.with effect from 1 April 2015 they agreed top share the profits equally. asked Sep 5, 2024 in Accounts by Sindhu01 (57.8k points) accounting for partnership firms; class-12; 0 votes. 1 answer. X and Y are partners sharing profits in the ratio of 5:4. can a bylaw officer enter your propertyWebbThe Partnership Deed provided as follows: (a) Interest on capital be allowed @ 10% p.a. (b) Amit to get a salary of ₹ 2,000 per month and Vijay ₹ 3,000 per month. (c) Profits are to be shared in the ratio of 3 : 2. Net profit for the year ended 31st March, 2024 was ₹ 2,16,000. Interest on drawings amounted to ₹ 2,200 for Amit and ₹ 2,500 for Vijay. fish cafe vancouver bcWebbSimran and Reema are partners sharing profits in the ratio of 3:2. Their capitals as on 31st March, 2024 were Rs.2,00,000 each whereas Current Accounts had balances of … can a bylaw officer enter your property in bcWebbA and B are partners, sharing profits in the ratio of 3 : 2. C was admitted for 1/6th share of profit With minimum guaranteed amount of Rs. 10,000. At the close of the first financial year, the firm earned a profit of Rs. 7,54,000. Find out the share of profit which A, B and C will get. Medium View solution > fish cafe manly qld