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Question : Sharma, Verma and Goyal are partners in a firm. On 1st April 2012 the balances in their Capital Accounts were as follows:
Sharma Rs. 4,00,000; Verma Rs. 4,20,000 and Goyal Rs. 3,70,000. The firm closes its accounts every year on 31st March. Verma died on 30th September 2012. In the event of the death of any partner following are the provisions in the Partnership Deed:
(i) Interest on Capital will be calculated at the rate of 10% p.a.
(ii) The deceased partner; 's legal representative will be paid Rs. 35,000 for his share of goodwill.
(iii) The firm had a Reserve Fund of Rs. 2,10,000. The deceased partner will be paid his share in the Reserve Fund.
(iv) His share of profit till the date of death will be calculated based on sales. It is also specified that the sales during the year 2011-12 were Rs. 15,00,000. The sales from 1st April 2012 to 30th September 2012 were Rs. 3,00,000. The profit of the firm for the year ending 31st March 2012 was Rs. 3,00,000.
Question:
Amount Due to the deceased's partner's capital account will be ......

Option 1: Rs 3,66,000

Option 2: Rs 6,06,000

Option 3: Rs 5,66,000

Option 4: None of the above

Team Careers360 25th Jan, 2024

Correct Answer: Rs 5,66,000


Solution : Answer = Rs 5,66,000

                                     Verma's Capital A/c
By Verma's executor a/c (b/f) 5,66,000 By Bal b/d 4,20,000
    By IOC 21,000
    ($4,20,000 \times \frac{10}{100} \times \frac{6}{12}$)  
    By Reserve fund 70,000
    ($2,10,000 \times \frac{1}{3}$)  
    By Sharma & Goyal capitals 35,000
    By P & L suspense a/c
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Question : Comprehension:
Read the given passage and answer the questions that follow.
'What's your name, boy?' said the gentleman in the high chair. Oliver was frightened at the sight of so many gentlemen, which made him tremble and speak in a very low and hesitating voice.
'Listen to me. You know you're an orphan, I suppose? And that you were brought up by the parish, don't you?'
'Yes, sir,' replied Oliver, weeping bitterly.
'I hope you say your prayers every night,' said another gentleman in a gruff voice, 'and pray for the people who feed you, and take care of you'.
'Yes, sir,' stammered the boy.
'Well! You have come here to be educated, and taught a useful trade,' said the red-faced gentleman in the high chair.

Poor Oliver! He little thought, as he lay sleeping, happily unconscious of things around him, that the board had that very day arrived at a decision which would exercise the most material influence over all his future fortunes.

But they had. They believed the workhouse was a regular place of public entertainment for the poorer classes; a tavern where there was nothing to pay; a public breakfast, dinner, tea, and supper all the year round; a brick and mortar place, where it was all play and no work. 'Oho!' said the board, looking very knowing; 'we are the fellows to set this to rights; we'll stop it all, in no time.'

So, they established the rule, that all poor people should be starved by a gradual process in the house. The water-works were asked to lay on an unlimited supply of water; a corn-factory asked to supply small quantities of oatmeal; and it was decided to issue three meals of thin gruel a day, with an onion twice a week, and half a roll of bread on Sundays.

Question:
What was the decision taken by the gentlemen?

Option 1: To give the boys a happy home

Option 2: To slowly starve the boys to death

Option 3: To improve things so the children remained ever grateful

Option 4: To give food, education and care to the boys

Team Careers360 25th Jan, 2024

Correct Answer: To slowly starve the boys to death


Solution : The correct option is the second option.

Explanation:
The passage describes the decision made by the board (the gentlemen) regarding the treatment of the poor in the workhouse. They believed the workhouse was a place of leisure and decided

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i filled my jee main form for b planning course and the form editing date has already passed i want to change it into b tech i have paid for both the forms can i edit my second jee form after attempting first jee form for b planning course

Satvik 18th Oct, 2024

Hi

hope you doing well

Once the JEE Main correction window closes, NTA does not usually allow further modifications, including switching between papers such as from B.Planning to B.Tech. However, during the active correction period, candidates can modify certain details like course selection and paper preferences.

Since the correction window

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