At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner? (AI 2013) Post category:Accountancy Reading time:1 mins read SOLUTION Rate of interest is 6% p.a. 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 PostDifferentiate between ‘Profit & Loss Appropriation Account’ and ‘Profit & Loss Suspense Account’. (Delhi and Al 2015 C) Next PostIn which ratio do the remaining partners acquire the share of deceased partner? (Delhi and AI 2018 C) You Might Also Like A, B and C are partners sharing profits in the ratio of 4/9 : 3/9 : 2/9. B retires and his capital after making adjustments for reserves and gain (profit) on revaluation stands at Rs. 1,39,200. A and C agreed to pay him Rs. 1,50,000 in full settlement of his claim. Record necessary Journal entry for adjustment of goodwill if the new profit-sharing ratio is decided at 5 : 3. August 3, 2022 Naresh and Sukesh are partners with capitals of Rs. 3,00,000 each as on 31st March, 2019. Naresh had withdrawn Rs. 50,000 against capital on 1st October, 2018 and also Rs. 1,00,000 besides the drawings against capital. Sukesh also had drawings of Rs. 1,00,000. Interest on capital is to be allowed @ 10% p.a. Net profit for the year was Rs. 2,00,000, which is yet to be distributed. Pass the Journal entries for interest on capital and distribution of profit. July 21, 2022 If total assets of a firm are Rs. 6,00,000 and total liabilities are Rs. 1,80,000, what will the capitals of P, Q and R if they share profits in the ratio of their capitals and profit-sharing ratio is 5: 4: 3. September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C are partners sharing profits in the ratio of 4/9 : 3/9 : 2/9. B retires and his capital after making adjustments for reserves and gain (profit) on revaluation stands at Rs. 1,39,200. A and C agreed to pay him Rs. 1,50,000 in full settlement of his claim. Record necessary Journal entry for adjustment of goodwill if the new profit-sharing ratio is decided at 5 : 3. August 3, 2022
Naresh and Sukesh are partners with capitals of Rs. 3,00,000 each as on 31st March, 2019. Naresh had withdrawn Rs. 50,000 against capital on 1st October, 2018 and also Rs. 1,00,000 besides the drawings against capital. Sukesh also had drawings of Rs. 1,00,000. Interest on capital is to be allowed @ 10% p.a. Net profit for the year was Rs. 2,00,000, which is yet to be distributed. Pass the Journal entries for interest on capital and distribution of profit. July 21, 2022
If total assets of a firm are Rs. 6,00,000 and total liabilities are Rs. 1,80,000, what will the capitals of P, Q and R if they share profits in the ratio of their capitals and profit-sharing ratio is 5: 4: 3. September 27, 2022
