Accounting for ...

If profit sharing ratio is not specified in the partnership deed, then the profit is shared ______.

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 capital were Rs.12,000 and Z demanded a minimum profit of Rs. 10,000 as his financial position was not good. However, there was no written agreement on this profit. Calculate the amount payable to X, Y and Z. 

Ram and Mohan, are partners. They Draw for private use Rs. 6,000 and Rs. 4000 respectively. Interest is chargeable @ 6% per annum on drawings. What is the interest?

Partnership agreement can be __________.

Ram is a partner. He made drawing as follows:

A Drawn Rs.1000 per month on the last day of every month. If the rate of interest is 5% p.a. then the total interest or drawings will be:

Which of the following is not covered by the term "Property of the firm".

Share in partnership can be transferred by consent of ______ the partners.

Ajay and Vijay are partners in a firm. They share profits in the ratio of 3:2. As per their partnership agreement, interest on drawings is to be charged @ 10% p.a. Their drawings during 2017 were Rs 24,000 and Rs 16,000, respectively. Calculate interest on drawings based on the assumption that the amounts were withdrawn evenly, throughout the year.

As per section 37 of the Indian Partnership Act 1932, the executors would be entitled at their choice to the interest calculated from the date of death till the date of payment on the final amount due to the deceased partner at _______ % p.a.: