Accounting - Study Mode
[#441] A, B and C are partners. They admit D as a partner and gurantee that his share of profit shall not be less than Rs. 20,000 p.a. Profits are to be shared in the ratio of 4 : 3 : 3 : 2 respectively. If total profits for a year were Rs. 96,000, A's share of profits will be:
Correct Answer
(A) Rs. 30,400.00
[#442] While calculating purchase price, the following values of assets are considered
Correct Answer
(B) New values fixed
[#443] Given: Stock Trunover Ratio = 6 times Average Stock = Rs. 8,000 Selling price = 25% above cost What is the amount of gross profit?
Correct Answer
(D) Rs. 12,000
[#444] A retiring partner continues to be liable for obligations incurred after his retirement if
Correct Answer
(B) He does not givea public notice
[#445] Realization account is prepared in a partnership firm:
Correct Answer
(D) In case of dissolution of a firm