Accounting for ...

Partners are supposed to pay interest on drawings only when ______ by the _________. 

X, Y and Z are partners in a firm. At the time of division of profit for the year, there was a dispute between the partners. Profits before interest on partner's loan were Rs. 12,000 and Y determined interest @ 24% p.a. on his loan of Rs.1,60,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.

What time would be taken into consideration if equal monthly amount is drawn as drawing at the beginning of each month? 

Where will you record interest on drawings? 

When Profit & Loss Appropriation Account is prepared? 

X, Y and Z are partners in a firm. At the time of division of profit for the year, there was a dispute between the partners. Profits before interest on partners' capital were Rs.12,000. X wanted interest on capital @ 20% as his capital contributions were Rs. 2,00,000 as compared to that of Y and Z which was Rs. 1,50,000 and Rs. 1,00,000 respectively. Calculate amounts payable to X, Y and Z. 

X and Y are partners sharing profits and losses in the ratio 4:1. Z was manager who received the salary of Rs.8,000 p.m. in addition to a commission of 5% on net profits after charging such commission. Profits for the year is Rs. 13,56,000 before charging salary. Find the total remuneration of Z? 

X and Y are partners sharing profits and losses in the ration of 3:2 having the capital of Rs. 1,60,000 and Rs. 1,00,000 respectively. They are entitled to 9% p.a. interest on capital before distributing the profits. During the year firm earned Rs.15,600 before allowing any interest on capital. Profits apportioned among X and Y is ___________. 

To constitute a partnership agreement, it _____________.

Fluctuating Capital Account is credited with: