Question 1 Chapter 2 – Unimax Class 12 Part 1 – 2021

Question 1 Chapter 2 - Unimax Class 12 Part 1 - 2021

Question 1 Chapter 2 – Unimax Class 12 Part 1

1. A and B are partners in a firm. State by giving reasons whether their claims are valid if partnership deed is silent in following Matters :
(a)
B has advanced a loan to the firm. He claims interest at the usual interest rate charged by banks. Which is 13% per annum.
(b)
A has contributed Rs. 100000 and B Rs. 50000 as Capital. B wants profits to be shared equally.

The solution of Question 1 Chapter 2 – Unimax Class 12 Part 1: 

In the absence of any partnership agreement :
(i) B is entitled to interest an loan @ 6% p.a.
(ii) Profits among partners should be distributed equally.

https://tutorstips.com/not-for-profit-organisations/

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

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T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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