Get Advice on Live Video Call
Earn $ Cash $ with
consultations on Bissoy App

Asha and Vipasha are equal partners with fixed capitals of Rs. 5,00,000 and Rs. 2,00,000, respectively. After closing the accounts for the year ending 31<sup>st</sup> March 2019, it was discovered that the interest on capitals was provided @ 6% per annum instead of 5% per annum. In the adjusting entry

Correct Answer: Asha will be debited with Rs. 1,500 and Vipasha will be credited with Rs. 1,500

Sony and Romy are equal partners with fixed capitals of Rs. 4,00,000 and Rs. 3,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was discovered that the interest on capitals was provided @ 8% per annum instead of 10% per annum. In the adjusting entry

X, Y and Z are equal partners with fixed capitals of Rs. 5,00,000, Rs. 3,00,000 and Rs. 1,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was discovered that the interest on capitals was provided @ 6% per annum instead of 5% per annum. In the adjusting entry

P, Q and R are equal partners with fixed capitals of Rs. 5,00,000, Rs. 4,00,000 and Rs. 3,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was discovered that the interest on capitals was provided @ 7% per annum instead of 9% per annum. In the adjusting entry

Anu and Tanu are equal partners with fixed capitals of Rs. 2,00,000 and Rs. 1,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was dis covered that the interest on capitals @ 8% per annum was omitted to be provided. In the adjusting entry

X and Y are partners in the ratio of 3 : 2. Their capitals are Rs. 2,00,000 and Rs. 1,00,000 respectively. The interest on capitals is allowed @ 8% per annum. The firm earned a profit of Rs. 60,000 for the year ending on 31st March 2019. The interest on capital will be

Working together, Asha and Sudha can complete an assigned task in 20 days. However, if Asha worked alone and completed half the work and then Sudha takes over the task and completes the second half of the task, the task will be completed in 45 days. How long will Asha take to complete the if she worked alone ? Assume that Sudha is more efficient than Asha.

A and B are partners with a profit-sharing ratio of 2 : 1 and capitals of Rs. 3,00,000 and Rs. 2,00,000, respectively. They are allowed 6% per annum interest on their cap itals and are charged 10% per annum interest on their drawings. Their drawings during the year were Rs. 60,000 for A and Rs. 40,000 for B. B's share of net profit as per profit and loss appropriation account amounted to Rs. 40,000. The net profit of the firm before any appropriation was

An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding). The sum of interest obtained after 2 years from both the schemes is Rs 2961. If both schemes have 23% per annum interest rate, then what is the first year interest (in Rs)of simple interest scheme?

An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding). The total interest obtained after 2 years from both the schemes together is Rs 2090. If both the schemes have 18% per annum interest rate, then what is the first year interest (in Rs) of simple interest scheme?

Two equal sum are invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding).The sum of interest obtained after 2 years from both the schemes is Rs 3717. If both scheme have 13% per annum interest rate, then what is the first year interest (in Rs) for simple interest scheme?