Sameer and Yasmin are partners with capitals of Rs 15,00,000 and Rs 10,00,000 respectively. They agreed to share profits in the ratio of 3: 2. The books are closed on March 31, every year. They admit Ravi on October 1, 2019 in the partnership, who bring Rs 12,00,000 as capital and Sameer also introduced additional capital Rs 3,00,000 on that date. Interest on partner's capital is provided @ 5% p.a. The amount of interest on the capital of Sameer for the year 2019-20 is-

Vijay and Manohar share profits and losses in the ratio of 2: 1. They admit Prakash as a partner with 1/4 share in profits with a guarantee that his share of profit will be at least Rs. 50,000. The net profit of the firm for the year ending March 31,2015, was Rs. 1,60,000. Calcul…

Match List-I with List-II List-I | List-II (A) Redeemable Debentures | (I) the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures (B) Convertible Debentures | (II) these debentures are issued with a specified rate of…

The clauses of a partnership deed can be altered with the consent of

Match List-I with List-II List-I | List-II (A) Restricts the right to transfer its shares | (I) OPC (B) A company which is a subsidiary of a public company | (II) Private Company (C) A company which has only one person as a member | (III) Perpetual Succession (D) Members may come…

The company has to get minimum subscription within how many days?

Arrange the Following Steps to Calculate Goodwill under the Super Profits Method- (A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return (B) Calculate the average profit (C) Calculate the super profits by deducting normal profit from the a…

Match List-I with List-II List-I | List-II (A) Bank (fresh capital introduced) | (I) Debit side of Partner's Current Account (B) Interest on drawings | (II) Debit side of Partner's Capital Account (C) Bank (permanent withdrawal of capital) | (III) Credit side of Partner's Current…

Partners' current accounts are transferred to respective Partners' __________ Accounts.