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.

Calculate Interest on drawings for the amount Rs. 12000 on June 1, 2019.

Which combination of statements is true about partnership-

(A) Valid partnership can be formulated even without a written agreement between the partners.

(B) Methods of settlement of disputes among the partners can't be part of the partnership deed.

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

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

Choose the correct answer from the options given below:

Match List-I with List-II

From the following information, calculate interest on Capital of C, a partner for the year ended 31st March, 2022.

C's Capital on 31/3/2022: Rs. 12,00,000

Profit credited to C for the year ended 31/3/2022: Rs. 3,00,000

Drawings made during the year: Rs. 1,00,000

Additional Capital introduced on 1/10/21: Rs. 5,00,000

Rate of Interest = 12 % p.a.

Find the right sequence of appropriation of profits

A. Profits transferred to P and L appropriation A/c.

B. Interest on capital

C. Profits distributed to partner after appropriation

D. Interest on partner loan A/c

Choose the correct answer from the options given below

Opening capital balances of partners will be calculated by using which of the following formula :-