prepared the machine. account form ended 31march 2015. 1 april 2014 purchase a second hand machine 1april 2014 Sept 10000 repair it's making it's sericable
Answers
Explanation:
i. 12% p.a.
ii. 8% p.a.
iii. 6% p.a.
iv. 7.5%p.a
3. State the order of payment of the following, in case of dissolution of partnership firm.
(i) to each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner’ loan);
(ii) to each partner proportionately what is due to him on account of capital; and
(iii) for the debts of the firm to the third parties;
4. A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:i. ₹ 90,000
ii. ₹ 45,000
iii. ₹ 5,400
iv. ₹ 36,00
5. Amit, a partner in a partnership firm withdrew ₹ 7,000 at the beginning of each quarter. For how many months would interest on drawings be charged?
6. Ankit, Unnati and Aryan are partners sharing profits in the ratio of 5:3:2. They decided to share future profits in the ratio of 2:3:5 with effect from 1st April,2018. They had the following balance in their balance sheet, passing necessary Journal Entry:
Particulars: Amount(₹)
Profit and loss Account (Dr): 60,500
7. A and B are partners in a firm. They admit C as a partner with 1/5th share in the profits of the firm. C brings ₹ 4,00,000 as his share of capital. Calculate the value of C’s share of Goodwill on the basis of his capital, given that the combined capital of A and B after all adjustments is ₹ 10,00,000.
8. Riyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8:7:5. On 2nd November 2018, Kavleen died. Kalveen’s share of profits till the date of her death was 1 calculated at₹ 9,375. Pass the necessary journal entry.
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Explanation:
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