Question

Rohan and jai commenced business in partnership on April 1, 2006. No partnership agreement was made whether oral or written. They contributed Rs. 4,00,000 and
Rs. 1,00,000 respectively as capitals. In addtion, Raju advanced Rs. 2,00,000 as loan to the firm on October 1, 2006. Raju met with an accident on July 1, 2006 and could not attend the business up to september 30, 2006. The profit for the year ended March 31, 2007 amounted to Rs, 50,600. Disputes have arisen between them on sharing the profits of the firm.

State the correct position on each issue as per the provisions of the partnership Act. 1932.



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Answer 1

Answer:

Explanation:

Raju’s Claims

(i) He cannot claim interest on capital and he is entitled only for 6A interest on loan.

(ii) In absence ot any agreement profits are distributed equally

Jai’s Claims

(i) It will be accepted.

(ii) He is not entitled for any remuneration.

(iii) No interest on capital is allowed whereas 6% interest for loan should be given..

Hope it will help you

Answer 2

Hey dear ‼️

Answer...

Plzz refer to the attached file..

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