Webb20 aug. 2024 · The firm earned net profit of Rs. 6,00,000 for the year ended 31st March 2024. Pass the Journal entry for interest on capital and prepare Profit and Loss Appropriation Account. accounting for partnership firms class-12 1 Answer +5 votes answered Aug 20, 2024 by Nisub (71.3k points) selected Aug 20, 2024 by faiz Best … WebbA 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 >
X, Y and Z entered into partnership on 1 st October, 2024 to share ...
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. 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 ` … fisher scientific indiana pa
TS Grewal Solutions for Class 12 Accountancy Chapter 2 ... - BYJUS
Webb20 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. WebbAtul and Mithun are partners sharing profit in ratio 3:2, Balances as on 1st April 2024 were as follows: Capital account (fixed) – Atul – 7500000 and Mithun – 2600000, Loan accounts – Atul – 300000 (Cr) and Mithun – 200000 (Dr). It was agreed to allow and charge interest @ 8% per annum. WebbA, B and C are partners in a firm. Their profit sharing ratio is 2: 2: 1 . C is guaranteed a minimum amount of チ 10,000 as share of profit every year. Any deficiency arising on that amount shall be met by B. The profits for the two years ended 31st March, 2024 and 2024 were ई 40,000 and ई 60,000 respectively. Prepare Profit and Loss Appropriation Account … fisher scientific isotemp 110