Partnership Questions

Multiple choice
  1. b will remit 2,15,300 to A.

  2. B will remit 2,27,300 to A.

  3. B will remit 2,06,200 to A.

  4. By will remit 2,18,700 to A.

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A's investment is 2,00,000. Commission for A: 1% of 2,00,000 = 2,000. Interest on capital for A: 5% of 2,00,000 = 10,000. Sales by B: 2,50,000. Commission for B: 5% of 2,50,000 = 12,500. Profit = Sales - Cost - Commissions - Interest = 2,50,000 - 2,00,000 - 2,000 - 12,500 - 10,000 = 25,500. Profit share (3:2): A gets 15,300, B gets 10,200. Total due to A = Capital + Commission + Interest + Profit share = 2,00,000 + 2,000 + 10,000 + 15,300 = 2,27,300.

Multiple choice
  1. 80,400.

  2. 80,800.

  3. 81,200.

  4. None.

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The total credit of the joint venture includes sales of 5,60,000 and the material taken over by A at 16,000, summing to 5,76,000. The total debit includes purchases of 4,00,000, A's commission of 4,000 (1% of purchases), and B's commission of 11,200 (2% of sales), summing to 4,15,200. The net profit is the difference of 1,60,800, which is shared equally, giving A a share of 80,400.

Multiple choice
  1. Rs. 8000

  2. Rs. 8500

  3. Rs. 9000

  4. Rs. 7500

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A invested 3500 for 12 months, totaling 42000. Let B's investment be x for 7 months (12 - 5 = 7), totaling 7x. The profit ratio is 42000 / 7x = 2 / 3, which simplifies to 6000 / x = 2 / 3, so x = 9000.

Multiple choice
  1. 63,000 : 63,000 : 40,000

  2. 63,000 : 63,000 : 60,000

  3. 53,000 : 53,000 : 60,000

  4. 40,000 : 40,000 : 40,000

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Goodwill is 60,000. C's share (1/3) is 20,000. Revaluation profit 26,000 split equally is 13,000 each. A's capital: 40,000 + 10,000 (goodwill share) + 13,000 = 63,000. B's capital: 40,000 + 10,000 + 13,000 = 63,000. C's capital: 40,000.

Multiple choice
  1. Rs. $90,000$
  2. Rs. $74,000$
  3. Rs. $96,000$
  4. Rs. $95,000$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Interest on capital: A=8000, B=6000, C=4000. Total interest = 18000. Remaining profit = 38000 - 18000 = 20000. Profit share for A (ratio 2:2:1) = 2/5 * 20000 = 8000. A's final capital = 80000 + 8000 (interest) + 8000 (profit) = 96000.

Multiple choice
  1. $2,60,000 : 2,06,000 : 50,000$
  2. $2,20,000 : 1,82,000 : 66,000$
  3. $2,92,500 : 2,25,000 : 50,000$
  4. $2,82,500 : 2,19,500 : 66,000$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

C brings 50,000 capital and 16,000 goodwill. Goodwill is shared by A and B in their profit ratio 5:3. A gets 10,000, B gets 6,000. New capitals: A = 250,000 + 10,000 = 260,000. B = 200,000 + 6,000 = 206,000. C = 50,000.

Multiple choice
  1. $4,00,000:2,00,000:3,00,000$
  2. $4,00,000:3,00,000:2,00,000$
  3. $5,00,000:3,00,000:2,00,000$
  4. $4,50,000:2,50,000:1,50,000$
Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice
  1. $1,00,000:67,500:50,000$
  2. $1,50,000:87,500:50,000$
  3. $1,20,000:76,000:60,000$
  4. $1,25,000:75,000:50,000$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

New profit sharing ratio: Z gets 1/5. Remaining 4/5 shared by X and Y in 5:3. X = 5/8 * 4/5 = 1/2. Y = 3/8 * 4/5 = 3/10. New ratio = 1/2 : 3/10 : 1/5 = 5:3:2. Total capital based on Z's 50,000 for 1/5 share = 250,000. X = 5/10 * 250,000 = 125,000. Y = 3/10 * 250,000 = 75,000. Z = 50,000.

Multiple choice
  1. Rs.$13,000$
  2. Rs.$45,000$
  3. Rs.$32,000$
  4. Rs.$42,000$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

W's capital is the net value of assets brought in: Cash (5000) + Bank (8000) + Plant (20000) + Stock (12000) - Creditors (3000) = 42,000.