Question : L, B and P were partners sharing profits and losses in the ratio of 4: 3: 2. P died on 1st July, 2019 on which date the capitals of L, B and P after all necessary adjustments
stood at Rs. 75,000 ; Rs. 65,000 and Rs. 45,000 respectively. L and B continued to carry
on the business for 6 months without settling the account of P. During the period of 6 months ended 31st December, 2019, a profit of Rs. 50,000 is earned by the firm
Question:
Interest on loan by the deceased partner to the firm, if it is not agreed or the Partnership Deed is silent, may be paid @6% p.a.

Option 1: True

Option 2: False

Option 3: Can't say

Option 4: None of the above

Question : L, B and P were partners sharing profits and losses in the ratio of 4: 3: 2. P died on 1st July, 2019 on which date the capitals of L, B and P after all necessary adjustments
stood at Rs. 75,000 ; Rs. 65,000 and Rs. 45,000 respectively. L and B continued to carry
on the business for 6 months without settling the account of P. During the period of 6 months ended 31st December, 2019, a profit of Rs. 50,000 is earned by the firm
Question:
Interest on loan by the deceased partner to the firm, if it is not agreed or the Partnership Deed is silent, may be paid @6% p.a.

Option 1: True

Option 2: False

Option 3: Can't say

Option 4: None of the above

Question : L, B and P were partners sharing profits and losses in the ratio of 4: 3: 2. P died on 1st July 2019 on which date the capitals of L, B and P after all necessary adjustments stood at Rs. 75,000; Rs. 65,000 and Rs. 45,000 respectively. L and B continued to carry on the business for 6 months without settling the account of P. During the 6 months ended 31st December 2019, a profit of Rs. 50,000 was earned by the firm.
Choose the correct options available with P's Executor under Section 37 of the Indian Partnership Act, 1932 should be exercised.

Option 1: Interest @ 6% p.a. on balance amount = Rs. 45,000 X 6/100 X 6/12= Rs. 1,350.

Option 2: Share in the subsequent profits attributable to the use of balance due to him Rs. 50,000 x Rs. 45,000/Rs. 1,85,000 = Rs. 12,162.

Option 3: Both 1 and 2

Option 4: None of the above

Question : L, B and P were partners sharing profits and losses in the ratio of 4: 3: 2. P died on 1st July 2019 on which date the capitals of L, B and P after all necessary adjustments stood at Rs. 75,000; Rs. 65,000 and Rs. 45,000 respectively. L and B continued to carry on the business for 6 months without settling the account of P. During the 6 months ended 31st December 2019, a profit of Rs. 50,000 was earned by the firm.
Choose the correct options available with P's Executor under Section 37 of the Indian Partnership Act, 1932 should be exercised.

Option 1: Interest @ 6% p.a. on balance amount = Rs. 45,000 X 6/100 X 6/12= Rs. 1,350.

Option 2: Share in the subsequent profits attributable to the use of balance due to him Rs. 50,000 x Rs. 45,000/Rs. 1,85,000 = Rs. 12,162.

Option 3: Both 1 and 2

Option 4: None of the above

Question : A, B and C were partners sharing profits in the ratio of 5:3:2. On 31st March, 2020, A's Capital and B's Capital were Rs. 30,000 and Rs. 20,000 respectively but C owed Rs. 5,000 to the firm. The liabilities were Rs. 20,000 .
Question:
The assets of the firm is____________.

Option 1: Rs 70,000

Option 2: Rs 75,000

Option 3: Rs 65,000

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:
Installment to be paid on march 31, 2017 will be

Option 1: Rs 26,400

Option 2: Rs 36,400

Option 3: Rs 16,500

Option 4: None of the above