M and R are partners sharing profits and losses in the ratio of 3 : 2. Their capital A/c's showed the balance of Rs. 4,00,000 and Rs. 3,00,000 respectively on 1 April, 2021. M introduced additional capital on 1 August, 2021. Interest on capital is allowed @ 6% p.a. Total interest on capital of both the partners is Rs. 50,000.
Calculate additional capital introduced by M on 1 August, 2021 and interest on capital earned on additional capital. Books are closed on 31 March.
Held on 23 Aug 2022 · Verified 13 Jul 2026.
Rs. 1,00,000 and Rs. 4,000
Rs. 3,00,000 and Rs. 18,000
Rs. 2,00,000 and Rs. 8,000
Rs. 1,50,000 and Rs. 10,000
Sign in to track your attempts and accuracy.
Sign in to keep a private note on this question. Nothing you write is ever public.
An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.