A. B, C and D are partners. A, B and C desire that D should not participate in the conduct of the business of the firm. Can they prevent D? Post category:Accountancy Reading time:1 mins read SOLUTION No. Every partner is entitled to participate in the conduct of the affairs of the firm. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostA and B jointly purchased a plot of land. Will they be called partners? Next PostAlka, Barkha and Charu are partners in a firm having no partnership agreement. Alka, Barkha and Charu contributed Rs. 2,00.000, Rs. 3.00,000 and Rs. 1,00,000 respectively. Alka and Barkha desire that the profits should be divided in the ratio of capital contribution. Charu does not agree to this. How will you settle the dispute? You Might Also Like X and Y are partners sharing profits and losses in the ratio of 2: 3 with capitals Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st October, 2018, X and Y gave loans of Rs. 80,000 and Rs. 40,000 respectively to the firm. Show distribution of profits/losses for the year ended 31st March, 2019 in each of the following alternative cases: Case 1: If the profits before interest for the year amounted to Rs. 21,000. Case 2: If the profits before interest for the year amounted to Rs. 3,000. Case 3: If the profits before interest for the year amounted to Rs. 5,000. Case 4: If the loss before interest for the year amounted to Rs. 1,400. July 20, 2022 Name any two items which are shown on the credit of Profit and Loss Appropriation Account. September 26, 2022 A and B are partners sharing profits and losses in the ratio of 7 : 5. They admit C, their Manager, into partnership who is to get 1/6th share in the business. C brings in Rs. 10,000 for his capital and Rs. 3,600 for the 1/6th share of goodwill which he acquires 1/24th from A and 1/8th from B. Profits for the first year of the new partnership was Rs. 24,000. Pass necessary Journal entries for C’s admission and apportion the profit between the partners. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y are partners sharing profits and losses in the ratio of 2: 3 with capitals Rs. 2,00,000 and Rs. 3,00,000 respectively. On 1st October, 2018, X and Y gave loans of Rs. 80,000 and Rs. 40,000 respectively to the firm. Show distribution of profits/losses for the year ended 31st March, 2019 in each of the following alternative cases: Case 1: If the profits before interest for the year amounted to Rs. 21,000. Case 2: If the profits before interest for the year amounted to Rs. 3,000. Case 3: If the profits before interest for the year amounted to Rs. 5,000. Case 4: If the loss before interest for the year amounted to Rs. 1,400. July 20, 2022
Name any two items which are shown on the credit of Profit and Loss Appropriation Account. September 26, 2022
A and B are partners sharing profits and losses in the ratio of 7 : 5. They admit C, their Manager, into partnership who is to get 1/6th share in the business. C brings in Rs. 10,000 for his capital and Rs. 3,600 for the 1/6th share of goodwill which he acquires 1/24th from A and 1/8th from B. Profits for the first year of the new partnership was Rs. 24,000. Pass necessary Journal entries for C’s admission and apportion the profit between the partners. August 1, 2022