A firm earns a profit in last three years as follows :

2020 - 21 Rs. 75,000

2019 - 20 Rs. 1,20,000

2018 - 19 Rs. 50,000

Additional Information :-

Closing stock of 2020 - 21 was undervalued by Rs. 10,000.

Calculate the Average Profit.

Calculate net profit as per P & L A/c for the year ending 31 March, 2022 from the following information :

share of profit transferred to Capital A/c's of partners :

Ram Rs. 7,000

Shyam Rs. 3,500

Interest on capital :

Ram Rs. 1,500

Shyam Rs. 500

Interest on Drawings :

Ram Rs. 300

Shyam Rs. 200

Ram's salary Rs. 1,000

Which of the following would affect the Revaluation Account at the time of reconstitution of a partnership firm?

If partnership deed is silent on the profit sharing ratio: interest @_____ per annum is allowed on loans advanced by partners-

Interest on drawings of a partner has been calculated Rs. 3,000 @ 8% p.a. who has drawn equal amount in each quater; commencing from end of the first quarter throughout the year. The amount of drawing of partner per quarter would be :

Correct Journal entry for transferring interest on capital to Profit and Loss Appropriation Account is-

Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of 2:2:1. Their fixed capitals on April 01,2018 were:

Yadu Rs. 5,00,000, Madhu Rs. 4,00,000 and Vidu is 3,50,000. As per a partnership deed, partners are entitled to interest on capital of @5% p.a. and Yadu has to be paid a salary of Rs. 2000 per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to Rs. 75,000. On the basis of the profit and loss appropriation account, Partners' distribution of loss would be: