In the absence of partnership deed, what is the ratio in which the profits of a firm are divided among the partners? Post category:Accountancy Reading time:1 mins read SOLUTION Equally. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostIs a sleeping* partner liable to the acts of other partners? Next PostIn the absence of partnership deed, at which rate interest is allowed on a partner’s loan? You Might Also Like P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are Rs. 80,000 and Rs. 20,000 respectively. During the year 2018-19, the firm made a profit of Rs. 28,000 before charging interest on capital @ 5%. The drawings of the partners are P — Rs. 8,000; Q — Rs. 7,000; and R — Rs. 5,000. On 31st March, 2019, their liabilities were Rs. 18,000. On this date, they decided to dissolve the firm. The assets realised Rs. 1,08,600 and realisation expenses amounted to Rs. 1,800. Prepare necessary Ledger Accounts to close the books of the firm. July 26, 2022 Rs. 3,00,000 is the Cost of Revenue from Operations (Cost of Goods Sold). Inventory Turnover Ratio 8 times; Inventory in the beginning is 2 times more than the inventory at the end. Calculate value of Opening and Closing Inventories August 16, 2022 Interest received and paid by a finance company is classified under which Kind of activity while preparing a Cash flow statement? (C.B.S. E. 2018) October 6, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are Rs. 80,000 and Rs. 20,000 respectively. During the year 2018-19, the firm made a profit of Rs. 28,000 before charging interest on capital @ 5%. The drawings of the partners are P — Rs. 8,000; Q — Rs. 7,000; and R — Rs. 5,000. On 31st March, 2019, their liabilities were Rs. 18,000. On this date, they decided to dissolve the firm. The assets realised Rs. 1,08,600 and realisation expenses amounted to Rs. 1,800. Prepare necessary Ledger Accounts to close the books of the firm. July 26, 2022
Rs. 3,00,000 is the Cost of Revenue from Operations (Cost of Goods Sold). Inventory Turnover Ratio 8 times; Inventory in the beginning is 2 times more than the inventory at the end. Calculate value of Opening and Closing Inventories August 16, 2022
Interest received and paid by a finance company is classified under which Kind of activity while preparing a Cash flow statement? (C.B.S. E. 2018) October 6, 2022
