Accounting for ...

In the absence of specific provision in the partnership deed at what rate interest on drawing of the partners would be allowed ______ .

In the absence of specific provision in the partnership deed rate interest on capital of the partners would be allowed ______ .

Which of the following statements is true ?

A and B entered into a joint venture contract. They opened a joint bank account by contributing Rs. 1,00,000 each. The expenses incurred on contract were Rs. 1,00,000. Contract money received by cheque was Rs. 2,00.000 and in shares Rs. 50,000. The shares are sold for Rs. 40,000. What will be the profit on venture ?

A and B enter into a joint venture sharing profit and losses in the ratio 2:3. Goods were purchased by A for Rs. 55,000. Expenses incurred by A Rs. 3,500 and by B Rs. 5.200. B sold the goods for Rs. 80,000. Remaining stock was taken over by B at Rs. 12,200. What will be the final remittance to be made by B to A?

In the absence of specific provision in the partnership deed at what rate interest on advances given by the partners would be allowed _______ .

Interest on capital will be paid to the partners if provided for in the agreement but only from following _______________.

Bill and Monica are partners sharing profits and losses in the ratio of $$3:2$$ having the capital of Rs. $$80,000$$ and Rs. $$50,000$$ respectively. They are entitled to $$9\%$$ p.a. interest on capital before distributing the profits. During the year firm earned Rs. $$7,800$$ before allowing any interest on capital. Profits apportioned among Bill and Monica is?

A partner acts as _________ for a firm.

X, Y and Z are partners in a firm.At the time of division of profit for the year there was dispute between the partners.Profits before interest on partner's capital was Rs.15,000 and Y demands interest at 24%p.a. on his loan of Rs.80,000. There was no agreement on this point.Calculate the amount payable to X, Y and Z respectively.