Question 11 Mark
P, Q and R are partners in a firm. Their capitals are ₹ 30,000, ₹ 20,000 and ₹ 10,000 respectively. As per partnership deed,
i. R is to be allowed remuneration of ₹ 3,000 p.a.
ii. Interest on capital @ 5% p.a.
iii. Profits should be distributed in the ratio of 2 : 2 : 1.
Ignoring the above terms, net profit of ₹ 18,000 was distributed among the partners equally
Q.1. How much interest on capital is to be credited to partner P?
(a) ₹ 1,500$\quad$(b) ₹ 1,000
(c) ₹ 900 $\quad$(d) ₹ 800
Q.2. How much profit is to be credited to Partner Q after all adjustments?
(a) ₹ 1,000 $\quad$(b) ₹ 2,400
(c) ₹ 4,800 $\quad$ (d) ₹ 1,200
i. R is to be allowed remuneration of ₹ 3,000 p.a.
ii. Interest on capital @ 5% p.a.
iii. Profits should be distributed in the ratio of 2 : 2 : 1.
Ignoring the above terms, net profit of ₹ 18,000 was distributed among the partners equally
Q.1. How much interest on capital is to be credited to partner P?
(a) ₹ 1,500$\quad$(b) ₹ 1,000
(c) ₹ 900 $\quad$(d) ₹ 800
Q.2. How much profit is to be credited to Partner Q after all adjustments?
(a) ₹ 1,000 $\quad$(b) ₹ 2,400
(c) ₹ 4,800 $\quad$ (d) ₹ 1,200
Answer
View full question & answer→(a) ₹ 1,500
Explanation:
₹ 1,500
(c) ₹ 4,800
Explanation:
₹ 4,800
Explanation:
₹ 1,500
(c) ₹ 4,800
Explanation:
₹ 4,800