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Detail Form
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1.
According to Profit and Loss Account, the net profit for the year is Rs. 4,20,000. Salary of a partner is Rs. 5,000 per month and the commission of another partner is Rs. 10,000. The interest on drawings of partners is Rs. 4,000. The net profit as per Profit and Loss Appropriation Account will be :
2.
According to Profit and Loss Account, the net profit for the year is Rs. 1,50,000. The total interest on partner's capital is Rs. 18,000 and interest on partner's drawings is Rs. 2,000. The net profit as per Profit and Loss Appropriation Account will be :
3.
Is rent paid to a partner appropriation of profits?
4.
Which of the following items are recorded in the Profit & Loss Appropriation Account of a partnership firm?
5.
In the absence of express agreement, interest @ 6% p.a. is provided :
6.
In the absence of Partnership Deed :
7.
In the absence of partnership deed, partners share profits or losses :
8.
A partner introduced additional capital of Rs. 30,000 and advanced a loan of Rs. 40,000 to the firm at the beginning of the year. Partner will receive year's interest:
9.
On 1st January 2019, a partner advanced a loan of Rs. 1,00,000 to the firm. In the absence of agreement, interest on loan on 31st March 2019 will be :
10.
On 1st June 2018 a partner introduced in the firm additional capital Rs. 50,000. In the absence of partnership deed, on 31st March 2019 he will receive interest :