P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are ₹ 80,000 and ₹ 20,000 respectively. During the year 2018-19, the firm made a profit of ₹ 28,000 before charging interest on capital 5%. The drawings of the partners are P—₹ 8,000; Q—₹ 7,000; and R—₹ 5,000. On 31st March, 2019, their liabilities were ₹ 18,000.On this date, they decided to dissolve the firm. The assets realised ₹ 1,08,600 and realisation expenses amounted to ₹ 1,800.Prepare necessary Ledger Accounts to close the books of the firm.

P, Q and R are partners sharing profits and losses in the ratio of 3 :

1.	P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are ₹ 80,000 and ₹ 20,000 respectively. During the year 2018-19, the firm made a profit of ₹ 28,000 before charging interest on capital 5%. The drawings of the partners are P—₹ 8,000; Q—₹ 7,000; and R—₹ 5,000. On 31st March, 2019, their liabilities were ₹ 18,000.On this date, they decided to dissolve the firm. The assets realised ₹ 1,08,600 and realisation expenses amounted to ₹ 1,800.Prepare necessary Ledger Accounts to close the books of the firm.
Answer» P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are ₹ 80,000 and ₹ 20,000 respectively. During the year 2018-19, the firm made a profit of ₹ 28,000 before charging interest on capital 5%. The drawings of the partners are P $—$ ₹ 8,000; Q $—$ ₹ 7,000; and R $—$ ₹ 5,000. On 31st March, 2019, their liabilities were ₹ 18,000. On this date, they decided to dissolve the firm. The assets realised ₹ 1,08,600 and realisation expenses amounted to ₹ 1,800. Prepare necessary Ledger Accounts to close the books of the firm.

Discussion

No Comment Found

Related InterviewSolutions

A ladder of length 6 metres makes an angle of 45° with the floor while leaning against one wall of a room. If the foot of the ladder is kept fixed on the floor and it is made to lean against the opposite wall of the room, it makes an angle of 60° with the floor. Find the distance between two walls of the room. [CBSE 2011]
12. The height of a building is one-third of the height of telephone exchange tower standing on it . If the angle of elevation of the top of the building when seen from a point on the ground is 30^° , then find the tangent of angle of elevation of the top of the telephone exchange tower when seen from the same point .
Question 5 In the following question out of the four options only one is correct, write the correct answer: If 5x3−4=2x5, then the numerical value of 2x-7 is: (a) 1913 (b) −1319 (c) 0 (d) 1319
In figure displayed below, if TP and TQ are the two tangents to a circle with centre O so that ∠POQ=110∘, then ∠PTQ is equal to
In the given figure, if ∠OAB=40∘, then ∠ACB = ___.
1. From a point 100 metre above a lake the angle of elevation of a stationary helicopter is 30^° and the angle of depression of reflection of the helicopter in the lake is 60 degree. Find the height of the helicopter above the lake.
If A and B are any two events having P(A∪B)=12 and P(A)=23 then probability of A ∩ B is (a) 12 (b) 23 (c) 16 (d) 13
For the given linear equation x−2y=1, match the different x values with their corresponding y values.
Let A be a square matrix of order n such that det(A)=10 and det(2A)2=40. Then the order of A is[1 mark]
A tangent is a secant with which of the following properties?

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment