Financial State...

The manager is entitled to a commission of 5% of net profit after changing such commission. 

The percentage of the commission is applied on the profit either:
1. Before charging such commission 
2. After charging such commission.

A, B, C and D are partners sharing profits and losses in the ratio of 3 : 3 : 2 : 1. The partnership is dissolved and D becomes insolvent. C brings only the share of loss and shows his inability toI contribute anything towards D's deficiency. According to Garner vs. Murray ruling, D's deficiency in total will be shared by _____________________.

A, a partner in a firm, is driving Rs.500 regularly on the 16th of every month. He will have to pay interest at the given rate in a year on Rs.6000 for the total period of __________.

Bad Debt account is created under _______ concept.

If the opening capital is Rs. 50,000 as on April 01, 2005 and additional capital introduced Rs. 10,000 on January 01, 2006. The interest charge on capital 10% p.a. The amount of interest on capital shown in profit and loss account as on March 31, 2005 will be:

Value of asset is Rs. 45,000.
Rate of depreciation is 12%.
Depreciation will be charged as ______.

A, B, C and D are partners sharing profits in the ratio of 5 : 4 : 3 : 2. 

Discuss the accounting treatment of the following transaction:

X,Y & Z are partners sharing profits and losses in the ratio of 4:3:2. During 2015, their capital drawings & salaries were as follows:

partners	capital (Rs.)	Salaries(Rs.)	Drawings (Rs.)
X	2,40,000	12,000	12,000
Y	1,60,000	12,000	6,000
Z	1,00,000	12,000	3,000

Partners are entitled to interest on capital @ 5% p.a. Interest on drawings to be charged @ 8% p.a. The net profit for the year ended 31-12-2015 was Rs. 1,45,000. On 1-7-2015 X made advance of Rs. 1,00,000 to the firm at 6% P.a. Y's share of profit after above appropriation will be ___________.