Change is profit sharing ratio of existing partners result in -
(A) Revaluation of firm
(B) Reconstitution of firm
(C) Dissolution of firm
(D) None of these
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M/s ABC & co . Is advised to dibit salary and commission , who of partners to the partners to the profit and loss Apptopriation Account , why do you t
Salary and commission to partners is an appropriation of profit and not a chrge it is because of this reason that the profit and loss appropriation account should be debited
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what is the maximm unmber of partners that a partnership firm can have ? Name the act that provides for the maximum number of partners is a partership
Maximm number of partners - 100 Act - Indian Partnership Act, 1932
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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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A,B and C are partners sharing profits and losses in the ratio of 2:2:1 resptively A is entited to a commission fo 10% on the net profit Net profit fo
Commission payable to A -Rs, 11,000
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X.Y and Z are partners sharing profit and losses equally as per partnership Deed ,Z is entited to a commission of 10% on the net profit after charging
Commission payable to Z -Rs.20,000
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A.B C and D are partners in a firm sharing profits as 4:3:2:1 respectively . It earned a neet profit of RS. 1,80,000 for the year ended 31st March ,20
Commission payable to the partners `=20//120xxRs.30,000 `which will be shared as :A-Rs. 6,000 :B-Rs. 9,000 ,C-,C-Rs. 6,000 and D-Rs. 9,000 , share of profit ,A 60,000 ,B-Rs. 5,000 ,CRs. 30,000...
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On reconstitution of partnership firm, recording of an unrecorded liability will result in -
Correct option is: (B) Loss to the existing partners
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Profit or Loss on Revaluation is born by - (A) Old partners (B) New partners (C) All partners (D) Only two partners
Correct option is: (A) Old partners
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The gross profit ratio is ratio of gross profit and which ratio ?
Correct option is: (D) Net-Total Sales
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Annu, Baby and Chetan are partners in a firm sharing profits and losses equally. They decide to take Deep into partnership from 1st April, 2019 for 1/
Correct Answer - Goodwill - Rs. 2,27,550.
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