WebbSimrat and Bir are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2024 after closing the books of account, their Capital Accounts stood at ` … Webb2,40,000 from her capital and Bir introduced 3,00,000. Interest on capital is allowed at 6% p.a. Subsequently, it was noticed that interest on capital @ 6% p.a. had been omitted. Profit for the year ended 31st March, 2024 amounted to 2,40,000 and the partners' drawings had been: Simrat – 1,20,000 and Bir – 60,000.
Chapter 2 - Accounting for Partnership Firms-Fundamentals …
Webb23 juli 2024 · Simrat and Bir are partners in a firm sharing profits and losses in the ratio of 3:2.On 31st March, 2024 h closing the books of account, their Capital Accounts stood at … WebbClick here👆to get an answer to your question ️ 2 7,300; (b) Simrat--33.960; Bir-325.140.1 and Loss Appropriation Account and Partners' Capital Accounts and D are partners in a firm; C has contributed 1,00,000 and D7 60.000 as capital. Interest is payable 26%6 p.a. and D is entitled to a salary of 3,000 per month. In the year ended 31st March, 2024, the profit … slow cooker kielbasa and beer
X and Y are partners sharing profits in the ratio of 3 : 2 . On 31st ...
WebbQ. Ram, Shyam and Mohan were partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2. Their capitals were fixed at ₹ 3,00,000, ₹ 1,00,000, ₹ 2,00,000. For the year ended 31st March, 2024, interest on capital was credited to them @ 9% instead of 10% p.a. The profit for the year before charging interest was ₹ 2,50,000. Webb#Simrat#Bir#PastAdjustment#tsgrewal#solutions#fundamental#partnership#touch4career#CCC#Neeraj#ChawlaSolution of question number 60 of chapter 2 Fundamental o... Webb23 aug. 2024 · X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a new partner and fixed the new profit-sharing ratio as 3 : 2 : 1. At the time of admission of Z, Debtors and Provision for Doubtful Debts appeared at Rs. 50,000 and Rs. 5,000 respectively all debtors are good. Pass the necessary journal entries. slow cooker king