Which one of the following items is recorded in the Profit and Loss Appropriation account.

Interest on capital will be paid to the partners if provided for in the partnership deed but only out of.

Pick the odd one out of the following.

Goodwill is.

In case of fixed capitals, partners will have.

If a partner withdraws an equal amount in the beginning of each month for a period of 10 months, what will be the average period for calculation of Interest on Drawings?

Closing entry for interest on loan allowed to partners.

Which one of the following items is not an appropriation out of profits?

Limited Liability Partnerships came into existence in India after the enactment of:

In the absence of partnership deed partner share profit and loss in.

If the date of drawing is not given, interest on Total Drawings is calculated for.

Assertion (A): Partnership firm is a form of organisation where two or more persons carry on business activity on the basis of agreement among them.

Reason(R): The profit or loss arising from the partnership business is shared by the partners in the agreed ratio.

What will be partners’ profit shares, if Chaman’s share of is guaranteed after allowing interest on capital @ 6% p.a.

Given below are two statements, one labelled as Assertion (A) and other labelled as Reason (R) :

Assertion (A): Partners distribute profits and losses in their profit-sharing ratio and not in the ratio of their capitals.

Reason (R): The number of appropriations, as per Partnership Deed are more than the amount of profit available for distribution, profit is distributed in the ratio of appropriations.

In the context of above two statements, which of the following is correct?

A, B, and C are partner’s sharing profits in the ratio of 5:3:2 According to the partnership agreement C is to get a minimum amount of ₹ 10,000 as his share of profits every year. The net profit for the year ended 31st March, 2021 amounted to ₹ 40,000. How much amount contributed by A?