When the deed is silent profit is shared equally. Different capitals do not automatically change the profit ratio.
Step 2
Why this answer is correct
The correct answer is A. बराबर / Equally. When the deed is silent profit is shared equally. Different capitals do not automatically change the profit ratio.
Step 3
Exam Tip
विलेख मौन होने पर लाभ बराबर बाँटा जाता है। पूँजी अलग होने से लाभ अनुपात अपने आप नहीं बदलता।
Net profit starts on the credit side of appropriation account. Then salary interest and other appropriations are deducted.
Step 2
Why this answer is correct
The correct answer is A. क्रेडिट पक्ष / Credit side. Net profit starts on the credit side of appropriation account. Then salary interest and other appropriations are deducted.
Step 3
Exam Tip
शुद्ध लाभ विनियोजन खाते में क्रेडिट से शुरू होता है। फिर वेतन ब्याज और अन्य विनियोजन घटाए जाते हैं।
Interest on drawings is like income for the firm. Therefore it is credited to the appropriation account.
Step 2
Why this answer is correct
The correct answer is A. क्रेडिट किया जाएगा / It will be credited. Interest on drawings is like income for the firm. Therefore it is credited to the appropriation account.
Step 3
Exam Tip
आहरण पर ब्याज फर्म की आय जैसा है। इसलिए इसे विनियोजन खाते में क्रेडिट किया जाता है।
Interest on capital is generally an appropriation of profit. Appropriation is not made beyond available profit.
Step 2
Why this answer is correct
The correct answer is A. रुपये 18000 तक / Up to Rs 18000. Interest on capital is generally an appropriation of profit. Appropriation is not made beyond available profit.
Step 3
Exam Tip
पूँजी पर ब्याज सामान्यतः लाभ का विनियोजन है। उपलब्ध लाभ से अधिक विनियोजन नहीं किया जाता।
A. वेतन नहीं दिया जाएगा/Salary will not be allowed
Step 1
Concept
Partner salary is allowed only if the deed provides it. If the deed is silent it is not deducted from profit.
Step 2
Why this answer is correct
The correct answer is A. वेतन नहीं दिया जाएगा / Salary will not be allowed. Partner salary is allowed only if the deed provides it. If the deed is silent it is not deducted from profit.
Step 3
Exam Tip
साझेदार वेतन केवल विलेख में प्रावधान होने पर मिलता है। मौन विलेख में इसे लाभ से नहीं घटाते।
For commission before charging commission apply the percentage directly. Ten percent of Rs 70000 is Rs 7000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 7000 / Rs 7000. For commission before charging commission apply the percentage directly. Ten percent of Rs 70000 is Rs 7000.
Step 3
Exam Tip
कमीशन से पहले के लाभ पर सीधे प्रतिशत लगाया जाता है। रुपये 70000 का दस प्रतिशत रुपये 7000 है।
If commission is on profit after commission use \(110000 \times \frac{10}{110}\). The answer is Rs 10000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 10000 / Rs 10000. If commission is on profit after commission use \(110000 \times \frac{10}{110}\). The answer is Rs 10000.
Step 3
Exam Tip
कमीशन बाद के लाभ पर हो तो \(110000 \times \frac{10}{110}\) किया जाता है। उत्तर रुपये 10000 है।
Deficiency is the difference between guaranteed profit and normal share. Here the deficiency is Rs 6000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 6000 / Rs 6000. Deficiency is the difference between guaranteed profit and normal share. Here the deficiency is Rs 6000.
Step 3
Exam Tip
गारंटी की कमी न्यूनतम लाभ और सामान्य हिस्से का अंतर है। यहां कमी रुपये 6000 है।
A. अन्य साझेदारों को बाँटने योग्य लाभ से/From profit distributable to other partners
Step 1
Concept
In firm guarantee the deficiency is met through total profit distribution. It may reduce other partners profit.
Step 2
Why this answer is correct
The correct answer is A. अन्य साझेदारों को बाँटने योग्य लाभ से / From profit distributable to other partners. In firm guarantee the deficiency is met through total profit distribution. It may reduce other partners profit.
Step 3
Exam Tip
फर्म गारंटी में कमी कुल लाभ वितरण से पूरी होती है। इससे बाकी साझेदारों का लाभ घट सकता है।
A. ऋण पर ब्याज खर्च है और पूँजी पर ब्याज विनियोजन है/Interest on loan is expense and interest on capital is appropriation
Step 1
Concept
Interest on partner loan is treated as expense before finding profit. Interest on capital is generally profit appropriation.
Step 2
Why this answer is correct
The correct answer is A. ऋण पर ब्याज खर्च है और पूँजी पर ब्याज विनियोजन है / Interest on loan is expense and interest on capital is appropriation. Interest on partner loan is treated as expense before finding profit. Interest on capital is generally profit appropriation.
Step 3
Exam Tip
साझेदार के ऋण पर ब्याज लाभ निकालने से पहले खर्च माना जाता है। पूँजी पर ब्याज सामान्यतः लाभ विनियोजन है।
A. लाभ हानि खाते में खर्च/Expense in Profit and Loss Account
Step 1
Concept
Interest on loan is an expense of the firm. It is taken in Profit and Loss Account before finding net profit.
Step 2
Why this answer is correct
The correct answer is A. लाभ हानि खाते में खर्च / Expense in Profit and Loss Account. Interest on loan is an expense of the firm. It is taken in Profit and Loss Account before finding net profit.
Step 3
Exam Tip
ऋण पर ब्याज फर्म का खर्च है। इसे शुद्ध लाभ निकालने से पहले लाभ हानि खाते में लिया जाता है।
A clear deed condition applies first in partnership. Order becomes very important when profit is insufficient.
Step 2
Why this answer is correct
The correct answer is A. विलेख में दिए क्रम को / The order given in deed. A clear deed condition applies first in partnership. Order becomes very important when profit is insufficient.
Step 3
Exam Tip
साझेदारी में स्पष्ट विलेख शर्त पहले लागू होती है। अपर्याप्त लाभ में क्रम बहुत महत्वपूर्ण होता है।
Under fixed capital normal profit appropriations go to current account. This keeps capital account fixed.
Step 2
Why this answer is correct
The correct answer is A. चालू खाता / Current account. Under fixed capital normal profit appropriations go to current account. This keeps capital account fixed.
Step 3
Exam Tip
स्थिर पूँजी में सामान्य लाभ विनियोजन चालू खाते में जाते हैं। इससे पूँजी खाता स्थिर रहता है।
Under fluctuating capital method all partner adjustments are recorded in capital account. So profit share is credited to capital account.
Step 2
Why this answer is correct
The correct answer is A. पूँजी खाता / Capital account. Under fluctuating capital method all partner adjustments are recorded in capital account. So profit share is credited to capital account.
Step 3
Exam Tip
चल पूँजी पद्धति में सभी साझेदार समायोजन पूँजी खाते में लिखे जाते हैं। इसलिए लाभ हिस्सा पूँजी खाते में क्रेडिट होगा।
A. लाभ हानि विनियोजन खाता/Profit and Loss Appropriation Account
Step 1
Concept
When final profit is transferred to partners appropriation account is debited. Partners accounts are credited.
Step 2
Why this answer is correct
The correct answer is A. लाभ हानि विनियोजन खाता / Profit and Loss Appropriation Account. When final profit is transferred to partners appropriation account is debited. Partners accounts are credited.
Step 3
Exam Tip
अंतिम लाभ साझेदारों को स्थानांतरित करते समय विनियोजन खाता डेबिट होता है। साझेदारों के खाते क्रेडिट होते हैं।
Loss reduces partners capital or current balance. Therefore partners accounts are debited.
Step 2
Why this answer is correct
The correct answer is A. डेबिट होंगे / They will be debited. Loss reduces partners capital or current balance. Therefore partners accounts are debited.
Step 3
Exam Tip
हानि साझेदारों की पूँजी या चालू शेष घटाती है। इसलिए साझेदारों के खाते डेबिट किए जाते हैं।
A. उपलब्ध लाभ तक अनुपात में सीमित करना/Restrict proportionately up to available profit
Step 1
Concept
General appropriation is not made beyond available profit. If no order is given proportionate restriction is safe.
Step 2
Why this answer is correct
The correct answer is A. उपलब्ध लाभ तक अनुपात में सीमित करना / Restrict proportionately up to available profit. General appropriation is not made beyond available profit. If no order is given proportionate restriction is safe.
Step 3
Exam Tip
सामान्य विनियोजन उपलब्ध लाभ से अधिक नहीं किया जाता। क्रम न हो तो अनुपातिक सीमा लगाना सुरक्षित है।
A. लाभ हानि समायोजन खाता/Profit and Loss Adjustment Account
Step 1
Concept
Wrong profit distribution can be corrected through adjustment entry. In exams find the difference between correct and wrong shares.
Step 2
Why this answer is correct
The correct answer is A. लाभ हानि समायोजन खाता / Profit and Loss Adjustment Account. Wrong profit distribution can be corrected through adjustment entry. In exams find the difference between correct and wrong shares.
Step 3
Exam Tip
गलत लाभ वितरण को समायोजन प्रविष्टि से सुधारा जा सकता है। परीक्षा में सही और गलत हिस्से का अंतर निकालें।
Profit distribution is based on profit sharing ratio. Capital ratio applies only if the deed says so.
Step 2
Why this answer is correct
The correct answer is A. बराबर लाभ अनुपात में / In equal profit ratio. Profit distribution is based on profit sharing ratio. Capital ratio applies only if the deed says so.
Step 3
Exam Tip
लाभ वितरण लाभ अनुपात से होता है। पूँजी अनुपात तभी लागू होगा जब विलेख ऐसा कहे।
Distributable profit is found by deducting debit appropriation items from credits. Rs 120000 minus Rs 45000 equals Rs 75000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 75000 / Rs 75000. Distributable profit is found by deducting debit appropriation items from credits. Rs 120000 minus Rs 45000 equals Rs 75000.
Step 3
Exam Tip
क्रेडिट से डेबिट विनियोजन मदें घटाकर शेष लाभ मिलता है। रुपये 120000 घटा रुपये 45000 बराबर रुपये 75000 है।
Add interest on drawings to net profit and deduct interest on capital and salary. Rs 95000 plus Rs 5000 minus Rs 35000 equals Rs 65000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 65000 / Rs 65000. Add interest on drawings to net profit and deduct interest on capital and salary. Rs 95000 plus Rs 5000 minus Rs 35000 equals Rs 65000.
Step 3
Exam Tip
शुद्ध लाभ में आहरण ब्याज जोड़ें और पूँजी ब्याज तथा वेतन घटाएँ। रुपये 95000 जोड़ रुपये 5000 घटा रुपये 35000 बराबर रुपये 65000 है।
Interest on capital is an appropriation out of profit. In loss and under such condition it will not be allowed.
Step 2
Why this answer is correct
The correct answer is A. नहीं दिया जाएगा / It will not be allowed. Interest on capital is an appropriation out of profit. In loss and under such condition it will not be allowed.
Step 3
Exam Tip
पूँजी पर ब्याज लाभ से दिया जाने वाला विनियोजन है। हानि में और ऐसी शर्त में इसे नहीं दिया जाएगा।
Interest on drawings is a charge from partner. It does not depend on profit if the deed provides it.
Step 2
Why this answer is correct
The correct answer is A. फिर भी लगाया जाएगा / It will still be charged. Interest on drawings is a charge from partner. It does not depend on profit if the deed provides it.
Step 3
Exam Tip
आहरण पर ब्याज साझेदार से वसूली है। यह लाभ होने पर निर्भर नहीं करता यदि विलेख में प्रावधान है।
The priority given in the deed should be followed. Create reserve first and distribute the remaining profit.
Step 2
Why this answer is correct
The correct answer is A. आरक्षित निधि घटाना / Deduct reserve. The priority given in the deed should be followed. Create reserve first and distribute the remaining profit.
Step 3
Exam Tip
विलेख में दी प्राथमिकता का पालन करना चाहिए। पहले आरक्षित निधि बनाकर शेष लाभ बाँटा जाएगा।
A. साझेदार के खाते में क्रेडिट/Credit in partners account
Step 1
Concept
Salary is debited to appropriation account. Its second effect is credit to partners capital or current account.
Step 2
Why this answer is correct
The correct answer is A. साझेदार के खाते में क्रेडिट / Credit in partners account. Salary is debited to appropriation account. Its second effect is credit to partners capital or current account.
Step 3
Exam Tip
वेतन विनियोजन खाते में डेबिट होता है। उसका दूसरा प्रभाव साझेदार के पूँजी या चालू खाते में क्रेडिट होता है।
A. साझेदार खाते में क्रेडिट/Credit in partner account
Step 1
Concept
Interest on capital is payable to partner. Therefore it is credited to the partners account.
Step 2
Why this answer is correct
The correct answer is A. साझेदार खाते में क्रेडिट / Credit in partner account. Interest on capital is payable to partner. Therefore it is credited to the partners account.
Step 3
Exam Tip
पूँजी पर ब्याज साझेदार को देय होता है। इसलिए साझेदार के खाते में क्रेडिट किया जाता है।
A. साझेदार खाते में डेबिट/Debit in partner account
Step 1
Concept
Interest on drawings is charged from the partner. Therefore it is debited to the partners account.
Step 2
Why this answer is correct
The correct answer is A. साझेदार खाते में डेबिट / Debit in partner account. Interest on drawings is charged from the partner. Therefore it is debited to the partners account.
Step 3
Exam Tip
आहरण पर ब्याज साझेदार से वसूला जाता है। इसलिए साझेदार खाते में डेबिट होता है।
Total ratio is six and Cs share is three parts. Half of the loss which is Rs 24000 will be borne by C.
Step 2
Why this answer is correct
The correct answer is A. रुपये 24000 / Rs 24000. Total ratio is six and Cs share is three parts. Half of the loss which is Rs 24000 will be borne by C.
Step 3
Exam Tip
कुल अनुपात छह है और स का हिस्सा तीन भाग है। हानि का आधा यानी रुपये 24000 स पर आएगा।
A. साझेदारों के पूँजी या चालू खातों में/Partners capital or current accounts
Step 1
Concept
Final profit is given to partners in their ratio. It is credited to capital or current accounts.
Step 2
Why this answer is correct
The correct answer is A. साझेदारों के पूँजी या चालू खातों में / Partners capital or current accounts. Final profit is given to partners in their ratio. It is credited to capital or current accounts.
Step 3
Exam Tip
अंतिम लाभ साझेदारों को उनके अनुपात में दिया जाता है। यह पूँजी या चालू खातों में क्रेडिट होता है।
After commission remaining profit is Rs 90000. A gets half Rs 45000 plus commission Rs 10000 totaling Rs 55000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 55000 / Rs 55000. After commission remaining profit is Rs 90000. A gets half Rs 45000 plus commission Rs 10000 totaling Rs 55000.
Step 3
Exam Tip
कमीशन के बाद शेष लाभ रुपये 90000 है। अ को आधा रुपये 45000 और कमीशन रुपये 10000 मिलाकर रुपये 55000 मिलेंगे।
Interest on drawings is a credit item. Omitting it makes distributable profit lower by that amount.
Step 2
Why this answer is correct
The correct answer is A. कम दिखाई देगी / It will appear lower. Interest on drawings is a credit item. Omitting it makes distributable profit lower by that amount.
Step 3
Exam Tip
आहरण पर ब्याज क्रेडिट मद है। इसे छोड़ने से बाँटने योग्य लाभ उतनी राशि से कम दिखेगा।
Interest on capital is a debit appropriation item. Omitting it makes remaining profit higher by that amount.
Step 2
Why this answer is correct
The correct answer is A. अधिक दिखाई देगा / It will appear higher. Interest on capital is a debit appropriation item. Omitting it makes remaining profit higher by that amount.
Step 3
Exam Tip
पूँजी पर ब्याज डेबिट विनियोजन मद है। इसे छोड़ने से शेष लाभ उतनी राशि से अधिक दिखेगा।
A. लाभ बाँटा जा रहा है/Profit is being distributed
Step 1
Concept
Profit increases partners claim. Therefore their accounts are credited when profit is distributed.
Step 2
Why this answer is correct
The correct answer is A. लाभ बाँटा जा रहा है / Profit is being distributed. Profit increases partners claim. Therefore their accounts are credited when profit is distributed.
Step 3
Exam Tip
लाभ साझेदारों के दावे को बढ़ाता है। इसलिए लाभ बाँटते समय उनके खाते क्रेडिट होते हैं।
A. हानि बाँटने की प्रविष्टि/Entry for distributing loss
Step 1
Concept
Loss is distributed by debiting partners and crediting appropriation account. This closes the appropriation account.
Step 2
Why this answer is correct
The correct answer is A. हानि बाँटने की प्रविष्टि / Entry for distributing loss. Loss is distributed by debiting partners and crediting appropriation account. This closes the appropriation account.
Step 3
Exam Tip
हानि साझेदारों को डेबिट और विनियोजन खाते को क्रेडिट करके बाँटी जाती है। इससे विनियोजन खाता बंद होता है।
A. विनियोजन के बाद बचा लाभ सही अनुपात में बाँटा है या नहीं/Whether remaining profit after appropriations is shared in correct ratio
Step 1
Concept
First place appropriation items on correct sides and then share remaining profit in correct ratio. This is the key exam check.
Step 2
Why this answer is correct
The correct answer is A. विनियोजन के बाद बचा लाभ सही अनुपात में बाँटा है या नहीं / Whether remaining profit after appropriations is shared in correct ratio. First place appropriation items on correct sides and then share remaining profit in correct ratio. This is the key exam check.
Step 3
Exam Tip
पहले विनियोजन मदें सही पक्ष पर लगाएँ और फिर शेष लाभ सही अनुपात में बाँटें। यही परीक्षा में मुख्य जाँच है।
A. क्योंकि कमी जानने के लिए गारंटी से तुलना करनी होती है/Because it must be compared with guarantee to find deficiency
Step 1
Concept
Deficiency under guarantee is found from the difference between normal share and minimum amount. So normal share must be calculated first.
Step 2
Why this answer is correct
The correct answer is A. क्योंकि कमी जानने के लिए गारंटी से तुलना करनी होती है / Because it must be compared with guarantee to find deficiency. Deficiency under guarantee is found from the difference between normal share and minimum amount. So normal share must be calculated first.
Step 3
Exam Tip
गारंटी की कमी सामान्य हिस्से और न्यूनतम राशि के अंतर से मिलती है। इसलिए पहले सामान्य हिस्सा निकालना जरूरी है।
