Question : Banwari, Girdhari and Murari are partners in a firm sharing profits and losses in the ratio of 4: 5: 6. On 31st March, 2014, Girdhari retired. On that date the capitals of Banwari, Girdhari and Murari before the necessary adjustments stood at Rs. 2,00,000, Rs.1,00,000 and Rs. 50,000 respectively. On Girdhari's retirement, goodwill of the firm was valued at Rs. 1,14,000. Revaluation of assets and reassessment of liabilities resulted in a profit of Rs. 6,000. General Reserve stood in the books of the firm at Rs. 30,000.

The amount payable to Girdhari was transferred to his Loan Account. Banwari and Murari agreed to pay Girdhari two yearly instalments of Rs. 75,000 each including interest @ 10% p.a. on the outstanding balance during the first two years and the balance including interest in the third year. The firm closes its books on 31st March every year.
Question:
Interest charged on March 31, 2016 is

Option 1: Rs 15,000

Option 2: Rs 9,000

Option 3: Rs 6,000

Option 4: None of the above

Question : Banwari, Girdhari and Murari are partners in a firm sharing profits and losses in the ratio of 4: 5: 6. On 31st March, 2014, Girdhari retired. On that date the capitals of Banwari, Girdhari and Murari before the necessary adjustments stood at Rs. 2,00,000, Rs. 1,00,000 and Rs. 50,000 respectively. On Girdhari's retirement, goodwill of the firm was valued at Rs. 1,14,000. Revaluation of assets and reassessment of liabilities resulted in a profit of Rs. 6,000. General Reserve stood in the books of the firm at Rs. 30,000 .

The amount payable to Girdhari was transferred to his Loan Account. Banwari and Murari agreed to pay Girdhari two yearly instalments of Rs. 75,000 each including interest @10% p.a. on the outstanding balance during the first two years and the balance including interest in the third year. The firm closes its books on 31st March every year
Question:
Interest charged on March 31, 2015 is

Option 1: Rs 7,500

Option 2: Rs 10,000

Option 3: Rs 15,000

Option 4: None of the above

Question : Banwari, Girdhari and Murari are partners in a firm sharing profits and losses in the ratio of 4: 5: 6. On 31st March, 2014, Girdhari retired. On that date the capitals of Banwari, Girdhari and Murari before the necessary adjustments stood at Rs. 2,00,000, Rs.1,00,000 and Rs. 50,000 respectively. On Girdhari's retirement, goodwill of the firm was valued at Rs. 1,14,000. Revaluation of assets and reassessment of liabilities resulted in a profit of Rs. 6,000. General Reserve stood in the books of the firm at Rs. 30,000 .

The amount payable to Girdhari was transferred to his Loan Account. Banwari and Murari agreed to pay Girdhari two yearly instalments of Rs. 75,000 each including interest @ 10% p.a. on the outstanding balance during the first two years and the balance including interest in the third year. The firm closes its books on 31st March every year.
Question:
Amount Transferred to his loan Account will be .....

Option 1: Rs 1,30,000

Option 2: Rs 1,20,000

Option 3: Rs 1,50,000

Option 4: None of the above

Question : Sindhu, Rahul and Kamlesh, who were sharing profits in the ratio of 3 : 3 : 4 respectively, as at 31st March, 2012 was as follows  balance of capital are Sindhu: 1,20,000   Rahul 1,00,000  Kamlesh: 80,000 Sindhu’s loan 20,000 (debit balance)

 General Reserve Rs 10,000
Sindhu died on 31st July 2012. The partnership deed provided for the following on the death of a partner :

(a) Goodwill of the firm be valued at two years’ purchase of average profits for the last three years which were Rs.80,000.
(b) Sindhu’s share of profit till the date of his death was to be calculated on the basis of sales. Sales for the year ended 31st March 2012 amounted to Rs.8,00,000 and from 1st April to 31st July 2012 Rs.3,00,000. The profit for the year ended 31st March 2012 was Rs.2,00,000.
(c) Interest on capital was to be provided @ 6% p.a.
Balance due to Sindhu’s Executor will be ------

Option 1: Rs 1,97,500

Option 2: Rs 1,75,900

Option 3: Rs 1,95,000

Option 4: None of the above

Question : P, Q and R are partners sharing profits and losses in the ratio of 3: 3: 2. Their respective capitals are in their profit-sharing proportions. On 1st April, 2019, the total capital of the firm and the balance of General Reserve are Rs. 80,000 and Rs. 20,000 respectively. During the year 2019-20, the firm made a profit of Rs. 28,000 before charging interest on capital @ 5%. The drawings of the partners are P-Rs. 8,000; Q-Rs. 7,000; and R-Rs. 5,000. On 31st March, 2020, their liabilities wereRs. 18,000.
On this date, they decided to dissolve the firm. The assets realised Rs. 1,08,600 and realisation expenses amounted to Rs. 1,800.
Question:
Profit/loss on realization are

Option 1: Loss Rs 19,200

Option 2: Profit Rs 19,200

Option 3: Loss Rs 1,920

Option 4: Profit Rs 1,920