Question
Three partners, 'A', 'B', and 'C', invested in a
business with contributions of Rs. 24,000, Rs. 15,000, and Rs. 18,000, respectively. They committed their investments for durations of 3 months, 6 months, and 1 year. After the business operations, the total profit amassed was Rs. 29,400. Calculate the share of profit that goes to 'B' from this total profit.Solution
Respective ratio of the profits received by ‘A’, ‘B’ and ‘C’ = (24000 × 3):(15000 × 6):(18000 × 12) = 4:5:12 Therefore, profit received by ‘B’ = 29400 × (5/21) = Rs. 7000
What is the journal entry for charging Depreciation under Cost Method?
Journal entry for recording of bad debt expense is which one among the following?
The LN function in Ms Excel 2010 returns the ________.
Value of supply under section 15(1) is:
Which of the following characteristics ensures that financial information is complete, neutral, and free from error?
Post-merger, the acquirer reports a goodwill of ₹120 crore, 40% higher than the net assets acquired. Upon impairment testing, only ₹10 crore is reco...
FIPB stands for:
A long contract requires that the investor
Idle time can be normal or abnormal. Which of the following will be regarded as abnormal idle time?
Ramnaresh & traders initiated their business on 1st April 2007 with ₹ 12,000 by 6000 units at the rate of ₹ 2 per unit. During the year he sold thes...
Relevant for Exams:
