Is reserve capital a, part of ‘Unsubscribed Capital’ or ‘Uncalled Capital’. (C.B.S.E. 20 I8) Post category:Accountancy Reading time:1 mins read SOLUTION Reserve Capital is a part of “Uncalled Capita.” 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 PostWhat is meant by Reserve Capital? (C.B.S.E. 2019) Next PostWhat is meant by ‘Capital Reserve’? You Might Also Like X and Y are partners sharing profits in the ratio of 2 : 1. Their Balance Sheet as at 31st March, 2019 was: August 2, 2022 Mohit and Sobhit are partners sharing profits in the ratio of 3: 2. Rohit was admitted for 1 / 6th share of profit with a minimum guaranteed amount of Rs. 10,000. At the close of the first financial year the firm earned a profit of Rs. 54,000. Find out the share of profit which Mohit, Sobhit and Rohit will get. October 11, 2022 Capitals of A, B and C as on 31st March, 2019 amounted to Rs. 90,000, Rs. 3,30,000 and Rs. 6,60,000 respectively. Profit of Rs. 1,80,000 for the year ended 31st March, 2019 was distributed in the ratio of 4 : 1 : 1 after allowing interest on Capital @ 10% p.a. During the year, each partner withdrew Rs. 3,60,000. The Partnership Deed was silent as to profit-sharing ratio but provided for interest on capital @ 12%. Pass the necessary adjustment entry showing the working clearly. July 22, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y are partners sharing profits in the ratio of 2 : 1. Their Balance Sheet as at 31st March, 2019 was: August 2, 2022
Mohit and Sobhit are partners sharing profits in the ratio of 3: 2. Rohit was admitted for 1 / 6th share of profit with a minimum guaranteed amount of Rs. 10,000. At the close of the first financial year the firm earned a profit of Rs. 54,000. Find out the share of profit which Mohit, Sobhit and Rohit will get. October 11, 2022
Capitals of A, B and C as on 31st March, 2019 amounted to Rs. 90,000, Rs. 3,30,000 and Rs. 6,60,000 respectively. Profit of Rs. 1,80,000 for the year ended 31st March, 2019 was distributed in the ratio of 4 : 1 : 1 after allowing interest on Capital @ 10% p.a. During the year, each partner withdrew Rs. 3,60,000. The Partnership Deed was silent as to profit-sharing ratio but provided for interest on capital @ 12%. Pass the necessary adjustment entry showing the working clearly. July 22, 2022