X 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? Post category:Accountancy Reading time:1 mins read SOLUTION No. He can get only 6% p.a. 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 PostSuresh and Ramesh are partners in a firm with capitals of Rs. 3,00,000 and 4,00,000 respectively. They do not have a partnership deed. Ramesh wants to share the profits in the ratio of Capitals. State with reason whether the claim is valid? Next PostA claims 6% p.a. interest on his capital. Is his claim valid if partnership deed is silent in this matter? You Might Also Like A, B, and C are partners sharing profits in the ratio of 5: 3: 2. C died and his share is taken by A. Calculate new profit-sharing ratio of A and B. August 4, 2022 Three Chartered Accountants A, B and C form a partnership, profits being shared in the ratio of 3 : 2 : 1 subject to the following: (a) C’s share of profit guaranteed to be not less than Rs. 15,000 p.a. (b) B gives a guarantee to the effect that gross fee earned by him for the firm shall be equal to his average gross fee of the preceding five years when he was carrying on profession alone, which on an average works out at Rs. 25,000. The profit for the first year of the partnership are Rs. 75,000. The gross fee earned by B for the firm is Rs. 16,000. You are required to show Profit and Loss Appropriation Account after giving effect to the above. July 22, 2022 Eastern Company Limited, having an authorised capital of Rs. 10,00,000 divided into shares of Rs. 10 each, issued 50,000 shares at a premium of Rs. 3 per share payable as follows: July 13, 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 5: 3: 2. C died and his share is taken by A. Calculate new profit-sharing ratio of A and B. August 4, 2022
Three Chartered Accountants A, B and C form a partnership, profits being shared in the ratio of 3 : 2 : 1 subject to the following: (a) C’s share of profit guaranteed to be not less than Rs. 15,000 p.a. (b) B gives a guarantee to the effect that gross fee earned by him for the firm shall be equal to his average gross fee of the preceding five years when he was carrying on profession alone, which on an average works out at Rs. 25,000. The profit for the first year of the partnership are Rs. 75,000. The gross fee earned by B for the firm is Rs. 16,000. You are required to show Profit and Loss Appropriation Account after giving effect to the above. July 22, 2022
Eastern Company Limited, having an authorised capital of Rs. 10,00,000 divided into shares of Rs. 10 each, issued 50,000 shares at a premium of Rs. 3 per share payable as follows: July 13, 2022