Q25: Amit, Sumit and Samiksha share in partnership gains in the 3:2:1 ratio. Samiksha`s share of the gain was guaranteed by Amit and Sumit to be a minimum amount of Rs 8,000. Earnings for the year ended March 31, 2013 were Rs 36,000. Share earnings between partners. Answer: Guarantee of benefits for Q7 partners: How do you moan about changing the rate of interest between existing partners? Do you take imaginary numbers to illustrate your answer? Answer: Generally due to the admission, retirement or death of a partner or sometimes the general agreement between the partners, they may decide to change the rate of interest. Various adjustments that should be taken into account when changing the interest rate are, goodwill, reserves and cumulative profits, profit or loss when revaluation of assets and liabilities and adjustment of capital, etc. General reserves and cumulative profits (if any) and earnings (or loss) resulting from the revaluation of assets and liabilities should be credited (debited) to the partner`s capital account in their former interest rate. But if existing partners decide to change the incentive rate, some partners (winning partners) win at the expense of other partners (victim partners). The former should therefore compensate the latter.
As a result, the capital accounts of the winning partners are taxed to the extent of their profits and the partners` capital accounts are credited to the extent of their victim. The following article will be handed over. Q1 😀 Efine Partnerschaftstat. Answer: The State of Partnership is a written agreement between the partners of a partnership company. It includes agreements on the interest rate, salaries, partner commission, partner capital and subscriptions and interest on loans granted or taken by partners, etc. In general, the following details are included in a partnership act. 2. Name and address of Company 3. Name and address of all partners 4. Profit and loss participation 5.
Capital contribution from each partner 6. Rights, types of roles and obligations of partners 7. Partnership duration 8. Interest rates on principal, subscriptions and loans 9. Compensation, commissions, if they are dedicated to partners. 10. Rules of admission, retirement, death and dissolution of the company, etc. Q6: Ram, Raj and George are partners who share benefits in a 5:3:2 ratio. Under the partnership agreement, George is expected to receive a minimum of 10 trillion euros per year as a share of profits. Net profit for 2006 was Rs 40,000. Prepare the profit and loss usage account.
Answer: Q3: Anubha and Kajal are partners in a company that shares profits and losses in a 2:1 ratio. Their capital was 90,000 and Rs 60,000. The result for the year was Rs 45,000. Depending on the state of the partnership, the two partners have a salary, 700 times a month in Anubha and 500 times a month in Kajal. Interest rate allowed in capital in derier 5% per year. The drawings at the end of the period were Rs 8,500 for Anubha and Rs 6,500 for Kajal. Interest is charged on subscriptions. Prepare partner equity accounts, provided the balance of capital fluctuates. Answer: a) Note: If the partners` salaries, capital interest and interest on the underwriting are treated in the same way as they have already been adjusted in the profit and loss account. The solution will be Q4: Why is the profit and loss regulation account prepared? Tell me. Answer: The profit and loss regulation account is established for two reasons.
1.To record omitted items and correct errors, if they exist- After the profit and loss account is established and the balance sheet, if errors or omissions are detected, these errors or omissions will be adjusted by opening the profit and loss regulation account during the next accounting period, without any change to the old profit and loss account.