CUET Accountancy - If the total income earned by Saket Club, a Not-for-Profit organisation is Rs. 2,60,000 and surplus earned is Rs. 85,000, then total expenditure incurred will be: | PYQs + Solutions

CUET Accountancy 2022 20 Aug Shift 2

Partnership

Easy

Rs. 1,85,000

Rs. 1,75,000

Rs. 3,45,000

Rs. 85,000

✅ Correct Option: 2

Related questions:

29 May Shift 2

Complete the sequence where interest on capital has to be provided as per partnership deed, but available profits are not sufficient to provide full amount of Interest on capital.

A. If it is appropriation, calculate interest on capital for all partners at given rate

B. Divide the available amount in the capital ratio among the partners

C. Calculate ratio between capital of partners

D. Consider the partnership deed and decide whether interest on capital is a charge or an appropriation

E. Consider the available profit

Choose the correct answer from the options given below:

13 May Shift 2

For distribution of profits made during a year among the partners, the following account is debited:

27 May Shift 2

Under the fixed capital method, the capital of the partners shall remain fixed unless additional capital is introduced or a part of the capital is withdrawn as per the agreement between the partners.

Which among the following is NOT the feature of the fixed capital method?

CUET Accountancy 2022 20 Aug Shift 2 PYQs

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