Vivek, Virat and Vineet were partners in a firm. Their capital accounts as on April 1, 2019 showed a balance of Rs.4,00,000, Rs.6,00,000 and Rs.8,00,000 respectively. On 1st July 2019 Virat introduced additional capital of Rs.1,00,000 while Vineet withdraw 50,000 on 31 Oct 2019 from their capitals. Interest on capital is allowed @8%. Calculate Interest on capital to be given to each partner.

Which of the following is the feature of Fixed Capital Method in Partnership Accounts:-

Identify which of the following is not related to the concept of "MUTUAL AGENCY"?

Deepti, Vinay and Himani are partners in a firm sharing profits and losses in the ratio of 3:3:2. They decided to share the profits equally w.e.f. April 01, 2025. Firm's Goodwill is Rs. 90,000. What is the share of each of the sacrificing partner to be recieved from the gaining partner?

Nagina, Pratap and Himesh are partners sharing profits and losses in the ratio of 5:3:2. The partnership deed provides for charging interest on drawings @ 5% p.a. The drawings of Nagina, Pratap and Himesh during the year ending March 31, 2025 amounted to Rs. 40,000, Rs. 15,000 and Rs. 15,000 respectively. After the final accounts have been prepared, it was discovered that interest on drawings has not been taken into consideration. Give necessary adjusting journal entry.

A and B are partners without any partnership deed. B has given loan of Rs.2,00,000 to the firm on 1st July 2023. B claim interest on loan @ 10% p.a. How much interest on loan will be paid to B for the year ending on 31st March 2024. ?

In fixed capital method, all adjustments for partner's drawings, salary, interest on capital, etc. are posted in the: