Aakriti and Bindu entered into partnership for making garment on April 01, 2004 without any partnership agreement. They introduced capitals of Rs 5,00,000 and Rs 3,00,000 respectively on October 01, 2006. Aakriti advanced Rs 20,000 by way of loan to the firm without any agreement as to interest. Profit and loss account for the year ended March 2007 showed profit of Rs 43,000. Partners could not agree upon the question of interest and the bases of division of profit. You are required to divide the profits between them giving reason for your solution.

tuteeHUB earn credit +10 pts


( 5 ) 1 Rating

Report

Posted on 20 Oct 2024, this text provides information on Business Studies related to Standard XII. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

Take Quiz To Earn Credits!

Turn Your Knowledge into Earnings.

tuteehub_quiz

Write Your Comments or Explanations to Help Others





webstory_list_img
Business Studies
webstory_list_img
Physics
webstory_list_img
Chemistry
webstory_list_img
Mathematics
webstory_list_img
Biology
webstory_list_img
Business Studies

Are you worried how you'll answer job interview questions? Don't panic! Interview question has got them all listed out for you in every industry , job role and company you can think. Simply,Choose a subject/topic and start preparing for your next interview round!

open app imageOPEN APP