A claims 6% p.a. interest on his capital. Is his claim valid if partnership deed is silent in this matter? Post category:Accountancy Reading time:1 mins read SOLUTION He cannot claim any interest. 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 PostX has given a loan of Rs. 50,000 to the firm. He claims 10% p.a. interest. Is his claim valid in case partnership deed is silent in this matter? Next PostB has drawn Rs. 50,000 from the firm for his personal use during the year. Firm wants to charge 6% p.a. interest on this amount. Can the interest be charged, if partnership deed is silent in this matter? You Might Also Like Ashmit, Abbas and Karman are partners sharing profits in the ratio of 3: 2: 1. Abbas is guaranteed minimum profit of Rs. 1,50,000 per annum. The firm incurred loss for the year ended 31st March, 2022 of Rs. 30,000. Prepare Profit & Loss Appropriation Account for the year. October 18, 2022 If a fixed amount is withdrawn on the first day of every month, for what period the interest on total drawings will be calculated? September 23, 2022 What is meant by Sacrificing Partners? September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Ashmit, Abbas and Karman are partners sharing profits in the ratio of 3: 2: 1. Abbas is guaranteed minimum profit of Rs. 1,50,000 per annum. The firm incurred loss for the year ended 31st March, 2022 of Rs. 30,000. Prepare Profit & Loss Appropriation Account for the year. October 18, 2022
If a fixed amount is withdrawn on the first day of every month, for what period the interest on total drawings will be calculated? September 23, 2022
