Central government has prescribed the maximum number of partners in a firm by virtue of__________ of the __________ .

John Ibrahim, a partner in Ancient Tours and Travels withdrew money during the year ending March 31, 2020 from his capital account, for his personal use. He withdrew Rs. 3,000 per month at the beginning of the month. Calculate interest on drawings that should be charged from John Ibrahim, if the rate of interest charged on drawing is 9% per annum.

Neha contributed Rs. 30,000 and Solani Rs. 90,000 as capital. What will be Saloni's share in profits if the partnership agreement is silent?

Ram and Shyam are equal partners. Their capitals as on April 01, 2025 were Rs. 50,000 and Rs. 1,00,000 respectively. After the accounts for the financial year ending March 31, 2026 have been prepared, it is discovered that interest at the rate of 6 per cent per annum, as provided in the partnership deed has not been credited to the partners' capital accounts.

Choose the correct adjusting entry from the options given below:

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.

At the time of change in profit sharing ratio, what will be the impact of reduction in the value of investment by 20% assuming existing book value of investments in balance sheet as Rs. 2,40,000 and there is an investment fluctuation reserve existing in balance sheet at Rs. 30,000?

John and Mathew share profits and losses in the ratio of 3:2. They admit Mohanty into their firm for 1/6 share in profits. John personally guaranteed that Mohanty's share of profit, after charging interest on capital @ 10% per annum would not be less than Rs. 30,000 in any year. The capital provided was as follows: John Rs. 2,50,000, Mathew Rs. 2,00,000 and Mohanty Rs. 1,50,000. The profit for the year ending March 31, 2025 amounted to be Rs. 1,50,000 before providing interest on capital. New profit sharing ratio is 3:2:1. Based on this, choose the correct statements from the options given below:

(A) John's share of profit is Rs. 30,000

(B) Mathew's share of profit is Rs. 30,000

(C) Mohanty's share of profit is Rs. 30,000

(D) John's share of profit is Rs. 60,000