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 Deepika and Rajshree are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2019 their Balance Sheet was: August 2, 2022 What is the financial year in case of a Company? September 30, 2022 X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April, 2019, they admit Z as a partner for 1/5th share in profits. On that date, there was a balance of Rs. 1,50,000 in General Reserve and a debit balance of Rs. 20,000 in the Profit and Loss Account of the firm. Pass necessary Journal entries regarding adjustment of reserve and accumulated profit/loss. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Deepika and Rajshree are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2019 their Balance Sheet was: August 2, 2022
X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April, 2019, they admit Z as a partner for 1/5th share in profits. On that date, there was a balance of Rs. 1,50,000 in General Reserve and a debit balance of Rs. 20,000 in the Profit and Loss Account of the firm. Pass necessary Journal entries regarding adjustment of reserve and accumulated profit/loss. August 1, 2022
