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Read the hypothetical text and answer the following questions .A,B and C are partners in a firm sharing profits and losses in the ratio of 2:2:1. Their capitals(Fixed) are ₹ 1,00,000, ₹ 80,000 and ₹ 70,000 respectively. For the year 2018-19, interest on capital was to be credited to them @ 9% p.a. instead of 12%1. What was the net amount should be credited to partner B? a) ₹ 1,500 b) ₹ 2,400 c) ₹ 1,800 d) ₹1,200 2. What was the net amount should be credited to partner C? a) ₹ 1,800 b) ₹ 2,000 c) ₹ 2,100 d) ₹ 1,700 3. What was the amount that debited to partner B? a) ₹ 1,500 b) ₹ 2,000 c) ₹ 3,000 d) ₹ 4,000 4. What was the amount of past adjustment entry? a) ₹ 400 b) ₹ 300 c) ₹ 600 d) ₹ 500 |
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Answer» 1. b) ₹ 2,400 2. c) ₹ 2,100 3. c) ₹ 3,000 4. c) ₹ 600 |
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