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प्रश्न
In the absence of partnership agreement, interest on drawings of partners is charged :
(1) at 6% per annum
(2) at 9% per annum
(3) at 12% per annum
(4) no interest is charged
उत्तर
no interest is charged
Interest on drawings is not charged from any partners in absence of Partnership Deed.
संबंधित प्रश्न
In the absence of partnership deed the profits of a firm are divided among the partners :
(a) In the ratio of capital
(b) Equally
(c) In the ratio of time devoted for the firm's business
(d) According to the managerial abilities of the partners
Under which major headings and sub-headings will the following items be shown in the Balance Sheet of a company as per Schedule VI Part I of the Companies Act, 1956 :
(i) A balance of the Statement of Profit and Loss.
(ii) A loan of Rs 1,00,000 payable after three years.
(iii) Short-term deposits payable on demand.
(iv) Loose tools
(v) Trademark
(vi) Land
(vii) Cash at the bank
(viii) Trade payables
Under which major heads and subheads will the following items be placed in the Balance Sheet of a company as per Schedule VI Part I of the Companies Act, 1956 :
(1) Bank overdraft.
(2) Cash and Cash Equivalents.
(3) Securities premium.
(4) The negative balance of the Statement of Profit and Loss.
(5) Goodwill.
(6) Trademark.
(7) 5 years loan obtained from SBI.
(8) Investments.
What is meant by Partnership deed?
What is a partnership deed?
What is the relationship between co-venturers?
Co-venturers’ liability is_________.
What is a Computer?
An account opened in the bank in a joint name of the co-venturers.
Answer in one sentence only.
How many persons are required to form partnership business?
Answer in one sentence only.
Who is called a nominal partner?
A partnership firm is a trading concern.
State whether the following statement is True or False.
Receipts and payments account is a real account.
A partnership firm has four partners. How many additional partners can be admitted into the business as per the provisions of the Companies Act, 2013?
Interest on Partner’s loan is credited to ______.
Read the following hypothetical situation and answer question on its basis:
|
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5:3:2. Their fixed capitals were ₹6,00,000, ₹4,00,000 and ₹2,00,000 respectively. Besides his capital Shiv had given a loan of ₹75,000 to the firm. Their partnership deed provided for the following: (i) Interest on capital @9% p.a. (ii) Interest on partner's drawings @12% p.a. (iii) Salary to Rudra ₹30,000 per month and to Dev ₹40,000 per quarter. (iv) Interest on Shiv's loan@ 9% p.a. During the year Rudra withdrew ₹ 50,000 at the end of each quarter; Dev withdrew ₹ 50,000 in the beginning of each half year and Shiv withdrew ₹ 70,000 at the end of each half year. The profit of the firm for the year ended 31-3-2022 before allowing interest on Shiv's loan was ₹ 7,06,750. |
How much amount of net profit will be transferred to Profit and Loss Appropriation A/c?
