If average capital employed in a firm is Rs. 15,00,000 and fair rate of return in the same industry was 8%. Goodwill was valued at Rs. 90,000 on the basis of three times of super profit. The Average Profit of the firm is ?

The partnership deed of a partnership firm includes:

(A) Salaries and Commission payable to partners

(B) Rules regarding the operation of bank accounts

(C) Common Seal of the firm

(D) The Accounting period of the firm

Choose the correct answer from the options given below:

M and R are partners sharing profits and losses in the ratio of 3 : 2. Their capital A/c's showed the balance of Rs. 4,00,000 and Rs. 3,00,000 respectively on 1 April, 2021. M introduced additional capital on 1 August, 2021. Interest on capital is allowed @ 6% p.a. Total interest on capital of both the partners is Rs. 50,000.

Calculate additional capital introduced by M on 1 August, 2021 and interest on capital earned on additional capital. Books are closed on 31 March.

Aashish withdrew Rs. 10,000 per month from the firm for his personal use during the year ending March 31, 2017. Calculate the interest on drawings, which is charged @8% p.a., when the amount is withdrawn at the beginning of each month .

Arun, a partner in a firm, withdraws Rs.1,000 from his capital at the beginning of every month for personal use. What would be the amount of interest on drawings for the whole year given the rate of interest is 9% per annum?

Which of the following statements are correct about partnership:-

(A) Each partner carrying on the business is the principal as well as the agent for all the other partners

(B) If the deed is silent, interest at the rate of 6% p.a. would be charged on the drawings made by the partner

(C) If the partnership deed is silent about the profit sharing ratio, the profits and losses of the firm are to be shared equally by partners

(D) Interest on partner's loan is to be given @ 12% p.a., if the deed is silent about the rate

Choose the correct answer from the options given below:

Anuj and Alka are partners in a firm. Their capital accounts as on April 01, 2025 showed a balance of Rs. 4,00,000 and Rs. 6,00,000 respectively. On July 01, 2025, Anuj introduced additional capital of Rs. 50,000 and Alka, Rs. 60,000. On October 01, Anuj withdrew Rs. 30,000 and on January 01, 2026 Alka withdrew Rs. 15,000 from their capitals. Interest on capital is allowed @ 8% p.a. What will be the interest payable to Anuj during the financial year 2025–2026?