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pratibha partner of a firm has advanced loan to the firm of Rs, 1,00,000 the firm does not have a paranership Deed will pratibha get interest on the i

Monjur Alahi

pratibha partner of a firm has advanced loan to the firm of Rs, 1,00,000 the firm does not have a paranership Deed will pratibha get interest on the if yes , at which rate and Why ?


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Salim Ahmed Kawsar

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Yes, In the absence of Partnership Deed, a partner receive interest on loan @ 6% p.a.

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Fixed Assets ₹ 4,00,000, working Capital ₹ 2,00,000, Cost of Goods Sold ₹ 20,00,000, Gross Sold ₹ 20,00,000, Gross profit ₹ 4,00,000 .Calculate Captia

Capital Employed Turnover Ratio = 4 Times

2 Answers 1 views
X and Y are partners with capitals of RS.50,000 each. They admit Z as a partner of 1/4th share in the profits of the firm. Z bring in RS.80,000 as his

Correct Answer - Hidden Goodwill-RS.1,00,000. Hidden Goodwill `=(RS.80,000xx4//1)-(RS.50,000+RS.50,0000+RS.40,000+RS.80,000)`

2 Answers 1 views
A partner draws Rs. 10.000 per month under the pernership Deed interest on drwings is to be charged @ 15 % p.a Calculate interest if the if the drwawi

interest in the three situations will be : (i) total Drawings in the =Rs. 1.20.00 Rate of interest = 15 % p,a interest n drawings `=(rs. 1.20.000xx15)/(100)xx(6^(1/(2))/(12)=Rs.9.750.` * Average period...

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Ved intends to retire from the firm and desiries that his son Dev be inducted as a partner in his place , partnership Deed Does not have a clause in t

Dev can be inducted as a partner if and only if all partners agree .

2 Answers 1 views
if the partnership Deed does not specify the rate of interest chargeable on Drawings will the interest still be charged ? If yes at what rate ? If not

No interest on drawings would be charged from partners.

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state the provisions of pernership Act 1932 in the absence of a partnership Deed regarading (i) interest on partners Drawings and (ii) interest on Adv

1) Interest on drawings : No interest on drawings would be charged from partners. 2) Interest on Advances other than capital : If a partner has provided any Loan to the...

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Somesh and ramesh are partners in a firm with capitals of Rs. 3,00,000 and RS. 4,00,000 respectively they do no have a apartnership Deed . Ramesh want

No,the claim is not valid. In the absence of Partnership Deed profit should be distributed equally.

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AandB are partners in firm sharing profits in the ratio of 3:2 they had advanced to the firm Rs. 30,000 as a loan in their profit- sharing ratio on 1s

interest payable to A -Rs. A-Rs. `xx`3/5`xx`6/10 `xx`6/12=Rs. 540, interest payable to B-Rs. 30,000`xx`2/5`xx`6/10 =Rs. 360. Hint :- According to the partnership Act 1932 interest @6% p.a payable on the...

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Sleeping partner, Quasi partner, Co-parcener, Sub-partner.

Correct Answer is  Co-parcener

2 Answers 1 views
Nominal partner, Active partner, Dormant partner, Minor as a partner.

Minor as a partner

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