Krish, Vrish and Peter are partners sharing profits in the ratio of 3:2:1. Vrish retired from the firm. On that date the Balance Sheet of the firm was as follows: Balance Sheet as on March 31, 2020 Liabilities Amount (₹) Assets Amount (₹) Creditors General Reserve Bills Payable Outstanding Salary Provision for Legal Damages Capitals: … Read more
Chintan, Ayush and Sudha were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. On 31st March, 2019, their Balance Sheet was as follows: Balance Sheet of Chintan, Ayush and Sudha as at 31st March, 2019 Liabilities Amount ₹ Assets Amount ₹ Capitals : Plant and Machinery … Read more
N, S and B were partners in a firm sharing profits and losses in proportion of ½, 1/6, and 1/3 respectively. The Balance Sheet of the firm as at 31st March, 2017 was as follows: Balance Sheet of N, S and B as at 31.3.2017 Liabilities Amount (Rs.) Assets Amount (Rs.) Capital: Freehold Premises … Read more
G, E and F were partners in a firm sharing profits in the ratio of 7 : 2 : 1. The Balance Sheet of the firm as at 31st March, 2018, was as follows: Balance Sheet of G, E and F as at 31st March, 2018 Liabilities Amount (Rs.) Assets Amount (Rs.) Capital Cash … Read more
Mohan, Vinay and Nitya were partners in a firm sharing profits and losses in the proportion of ½, 1/3 and 1/6 respectively. On 31st March, 2018, their Balance Sheet was as follows: Balance Sheet of Mohan, Vinay and Nitya as at 31st March, 2018 Liabilities Amount (Rs.) Assets Amount (Rs.) Creditors 48,000 Cash at Bank … Read more
Akul, Bakul and Chandan were partners in a firm sharing profits in the ratio of 2 : 2 : 1. On 31st March, 2018 their Balance Sheet was as follows : Balance Sheet of Akul, Bakul and Chandan as on 31-3-2018 Liabilities Amount (Rs. ) Assets Amount (Rs. ) Sundry Creditors 45,000 Cash … Read more
Lisa, Monika and Nisha were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. On 31st March, 2019, their Balance Sheet was as follows: Balance Sheet of Lisa, Monika and Nisha as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Trade Creditors 1,60,000 Land and … Read more
Gita, Radha and Garv were partners in a firm sharing profits and losses in the ratio of 3:5:2. On 31st March, 2019, their balance sheet was as follows : Balance Sheet of Gita, Radha & Garv as on 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Sundry Creditors 60,000 Cash 50,000 General … Read more
Anita, Gaurav and Sonu were partners in a firm sharing profits and losses in proportion to their capitals. Their Balance Sheet as at 31st March, 2019 was as follows: Balance Sheet of Anita, Gaurav and Sonu as at 31st March, 2019 Liabilities Amount (Rs.) Assets Amount (Rs.) Capitals : Land and Building 5,00,000 Anita 2,00,000 Investments 1,20,000 Gaurav 2,00,000 … Read more
Kanika, Disha and Kabir were partners sharing profits in the ratio of 2 : 1 : 1. On 31-3-2016, their Balance Sheet was as under : Liabilities Amount (Rs.) Assets Amount (Rs.) Trade creditors 53,000 Bank 60,000 Employees’ Provident Fund 47,000 Debtors 60,000 Kanika’s capital 2,00,000 Stock 1,00,000 Disha’s capital 1,00,000 Fixed assets 2,40,000 Kabir’s … Read more