• Answer the following questions using the information given below. Partner's Current Account A (Rs.) B...

Question

Question

• Answer the following questions using the information given below. Partners Current Account A (Rs.) B (Rs.) B/F 2016.04.01

April 2015 Calculate the value of Equity of the partnership A Rs. 1.000.000 B. Rs. 1.700,000 C. Rs. 1.740.000 D. Rs. 1.750,00

10. According to the partnership agreement, partners have agreed to pay a minimum annual income to B and it has already been

Answer 1

Answer #1

1. Calculation of value of equity of partnership as on 1st april, 2016 is 17,50,000

2. The net profit of the partnership for tge year ended 31st march, 2017 is 50,000

3. Minimum annual income agreed to pay for B is 210,000

Answer 2