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Ram and Shyam were partners in …

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Ram and Shyam were partners in a firm sharing profits in the ratio of 3: 5. Their Fixed Capitals were: Ram 5,00,000 and Shyam 9,00,000. After the accounts of the year had been closed, it was found that interest on capital at 10% per annum as provided in the partnership agreement has not been credited to the Capital Accounts of the partners. Pass a necessary entry to rectify the error.

Posted by Yash Trivedi 4 months, 1 week ago

CBSE > Class 12 > Accountancy

1 answers

Manju Koram Manju Koram 4 months, 1 week ago

Tha 0perating net profit ratio of a company is 25% calculate it's 0perating ratio

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Posted by Prachi Yadav 1 week, 2 days ago

CBSE > Class 12 > Accountancy

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On 1st April 2023 A and b comments to business with capital of ₹600000 and ₹200000 respectively on 31st March 2024 the net profit (before taking into account the provisions of deed) was ₹240000 interest on capital is to be allowed at 6% per annum b was entitled to a salary of ₹60000 per annum the drawings of the partners A and b were ₹60000 and ₹40000 respectively the interest on drawings for a being ₹2000 and b ₹1000 assuming that A and b are equal partners prepare the profit and loss appropriation account and partners capital account as at 31st March 2024

Posted by Anwushka Soni 5 days, 17 hours ago

CBSE > Class 12 > Accountancy

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Assertion (A): A firm is reconstituted in the event of change in the profit sharing ratio among existing partners, admission of a partner, retirement of a partner and death of a partner. Reason (R): Reconstitution of the firm leads to change in profit-sharing ratio among the partners.

Posted by Gautam Singhal 2 days, 19 hours ago

CBSE > Class 12 > Accountancy

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Illustration 27 cash flow

Posted by Sehaj Batra 3 days, 16 hours ago

CBSE > Class 12 > Accountancy

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Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
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Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

Posted by Tanvi Chogale 1 week, 2 days ago

CBSE > Class 12 > Accountancy