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In The Absence Of Partnership Agreement Interest On Drawings Of A Partner Is Charged

2020/12/11 00:40

A and B are partners who share the same benefits. A regularly drew 4,000 places at the beginning of each month for a period of six months ended September 30, 2018. Calculate interest on subscriptions of 5% per year over a six-month period. A partner withdraws $8,000 on April 1 and October 1. Interest on its subscriptions as of March 31 is 6% per annum on March 31: (A) 480 (B) 720 (C) 240 (D) 960 Interest on subscriptions – Total subscriptions × Menons – 24,000 × – Rs 1,200 Two individuals or more A includes at least two persons (partners). In some jurisdictions there may be a cap on the number of partners, but as this is a legal issue, it is not part of the FA2 program. Q24: On March 31, 2013, after the accounting ended, Ram, Shyam and Mohan`s capital accounts had a balance of R 24,000 and 12,000. Subsequently, it turned out that the capital interest had been omitted in 5%. Earnings for the year ended March 31, 2003 were 36,000 aff. and the partner`s subscriptions amounted to Ram, 3,600 Rs. Shyam, Rs 4,500 and Mohan, Rs 2,700. The contest of Ram, Shyam and Mohan was 3:2:1. Calculate the interest on the capital.

As the question should be this year 31. March 2013 Answer: 7. The relationship between partner and business is that of: (A) An owner (B) An agent (C) An owner and an agent (D) Manager 73. A and B contribute USD 1.00.00,000 and USD 60,000 respectively in a partnership venture as capital on which they agree to authorize interest in the 8% amount of p.a. Your share in profits or losses is 3 to 2. Earnings at the end of the year amounted to 2,800 Us-Us-Us-Us-Us-Euro before capital interest rates set in. If there is a clear agreement that capital interest be paid even in the event of a loss, then S`s share will be: (A) Profit 6,000 (B) Earnings 4,000 (C) Loss 6,000 (D) Loss 4,000 Q28: Radha, Mary and Fatima are partners who share the gains in the 5:4:1 report. Fatima is guaranteed that her share of profits will not be less than 5 trillion euros in one year. Earnings for the year ending March 31, 2013 were Rs 35,000. The lack, if ever, in the gains guaranteed to Fatima is to be endured by Radha and Mary in the report 3:2. Save the log entry needed to show the distribution of earnings between the partner.

Answer: 48. A, B and C are partners in a ratio of 5:3:2. Before B`s salary of 17,000 Us-Us, the company`s profit amounted to 97,000 euros. How much will he receive from the company? (A) 17,000 USD (B) 40,000 USD (C) 24,000 USD (D) 41,000 USD Asgar, Chaman and Dholu are partners in a company. Their capital accounts amounted to 6,00,000 U.S. euros; 5.00,000 and 4.00,000 USD on April 1, 2017. They shared the gains and losses in a ratio of 4:2:3. Partners are entitled to capital interest of 8% per annum and pay on Chaman and Dholu to the tune of USD 7,000 per month and USD 10,000 per quarter depending on the availability of the partnership declaration. Sholu`s share of profits (excluding capital interest, but also wages) is guaranteed with a minimum of $1.10,000 per year.

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