In the absence of Partnership Deed, the interest is allowed on partner’s capital:

The interest on capital accounts of partners under fluctuating capital account method is credited to :

Ram and Syam are partners sharing profits/losses equally. Ram withdrew Rs. 1,000 p.m. regularly on the first day of every month during the year 2015-16 for personal expenses. If interest on drawings is charged @ 5% p.a. Calculate interest on the drawings of Ram.

Which one of the following is NOT an essential feature of a partnership?

Current Account of a partner

Himani and Kajal are partners in a firm, sharing profits and losses in the ratio of 5:3. The balance in their fixed capital accounts, on April 1, 2016 were: Himani, Rs. 6,00,000 and Kajal, Rs. 8,00,000. The profit of the firm for the year ended March 31, 2017 was Rs, 1,26,000. Calculate their shares of profits, when there is no agreement in respect of interest on capital

The P & L Appropriation A/c shows how the profits of the business are being used and shared among its owners

On 1st June 2018 a partner introduced in the firm additional capital ₹50,000. In the absence of partnership deed, on 31st March 2019 he will receive interest :

A is a partner in a firm .He withdrew rupees 10000 at the end of each quarter during the year ended 31st March 2017. His interest on drawings @ 9% will be

If equal amount is withdrawn by partner in the beginning of each month during a month of 6 months interest on the total amount will be charged for......month

Which of the following elements of the nature of partnership is so important that there would be no partnership, if this element is absent?A

Rani and Suman are in partnership with fixed capitals of Rs, 80,000 and Rs. 60,000, respectively. During the year 2015-16, Rani withdrew Rs. 10,000 from her capital and Suman Rs. 15,000. Profits before charging interest on capital was Rs. 50,000. Rani and Suman shared profits in the ratio of 3:2. Calculate the amounts of interest on their capitals @ 12% p.a. for the year ended March 31, 2016.

By virtue of Section 464 of the Companies Act, 2013 the Central Government is empowered to prescribe maximum number of partners in a firm but the number of partners cannot be more than ___________.

Rani and Shyam is partner in a firm. They are entitled to interest on their capital but the net profit was not sufficient for paying his interest, then the net profit will be distributed among partner in

Which of the following transactions is always recorded in the partner's capital account irrespective of whether the partners capitals are fixed or fluctuating?Additional capital introduced by a partnerPermanent withdrawal of capital by a partnerboth (b) and (c)

A partner introduced additional capital of ₹30,000 and advanced a loan of ₹40,000 to the firm at the beginning of the year. Partner will receive year’s interest:

To which account salary and commission to partners and interest on capital be debited?

A,B and C were partner in a firm sharing Profit in the ratio of 3:2:1 during the year the firm earned profit of Rs. 84,000.Calculate the amount of Profit or Loss transferred to the capital A/c of B.

Verma and Kaul are partners in a firm. The partnership agreement provides that interest on drawings should be charged @ 6% p.a. Verma withdraws Rs. 2,000 per month starting from April 01, 2019 to March 31, 2020. Kaulwithdrew Rs, 3,000 per quarter, starting from April 01, 2019. Calculate interest on partner’s drawings.

Mohan and Shyam are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:Mohan is an active partner. He wants a salary of Rs. 10,000 per year;

A partner withdraws rupees 8000 each 1st April and 1st October .interest on his drawing is drawing @ 6% per annum on 31st March will be

Interest on capital will be paid to the partners if provided for in the partnership deed but only out of:

Is rent paid to a partner appropriation of profits?