A firm which maintains fixed capital had two partners Vimla and Kamla sharing profits in the ratio 1:1 The firm credited the partners with profit without interest on Capital which is allowed in the deed. Choose the correct option to pass a journal entry for the past adjustment if the Interest on capital Rs.2000 for Vimla Rs.3000 for Kamla

When the total amount withdrawn is given but the date of withdrawal is not given then interest on drawings is charged for a period of:

Which statement is not true about Capital Accounts of Partner-

If the partnership deed is silent, at what rate, the interest would be charged on the drawings made by the partner:

X and Y are partners in the firm. State which of the following claim is valid if the partnership agreement is silent in the following matters:

Which of the following is not the feature of fluctuating capital in partnership-

The books of a business showed that the firm's capital employed is Rs. 2,50,000 and the profits for the last five years were: 2021–Rs. 20,000; 2022-Rs. 25,000; 2023-Rs. 27,500; 2024- Rs.35,000 and 2025-Rs. 42,500. What will be the value of Super Profit, when the goodwill valuation is done on the basis of 3 years' purchase of super profits of the business, given that the normal rate of return is 10%.