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Class 12 · Accountancy
→Based on the previous year, if the firm’s estimated annual profit is ₹6,72,000 and a partner dies 5 months after the beginning of the year, what amount of profit should be estimated for the firm up to the date of death, assuming profits accrue evenly?
Class 12 · Accountancy
→Why is average profit used to calculate the deceased partner’s share of profit up to the date of death?
Class 12 · Accountancy
→The deceased partner’s estimated annual share of profit, based on the previous year, is ₹9,84,000. If he died 6 months after the beginning of the financial year and profit is assumed to accrue evenly throughout the year, what amount of profit is credited to him up to the date of death?
Class 12 · Accountancy
→A partner dies 2 months after the beginning of the accounting year. If the firm’s annual profit, based on the average profit of previous years, is ₹18,00,000 and profit is earned uniformly throughout the year, what will be the estimated profit up to the date of death?
Class 12 · Accountancy
→Why is the time ratio necessary when calculating a deceased partner’s share of profit?
Class 12 · Accountancy
→According to the partnership deed, the deceased partner’s annual share of profit is ₹13,44,000. If the partner dies after 7 months of the accounting year, what will be the partner’s share of profit up to the date of death?
Class 12 · Accountancy
→After being credited to the deceased partner’s capital account, the amount of their share of profit is ultimately transferred to which account?
Class 12 · Accountancy
→Using the previous year’s annual profit of ₹5,04,000 as the basis, if a partner dies 5 months after the beginning of the financial year, what is the estimated profit up to the date of death?
Class 12 · Accountancy
→Assertion (A): A deceased partner is entitled to his share of the profit earned from the beginning of the financial year up to the date of his death. Reason (R): He was a partner of the firm up to the date of death, and his right to the profit for that period had accrued.
Class 12 · Accountancy
→A firm’s annual profit is ₹15,60,000. For calculating the deceased partner’s time-proportionate share of profit, what amount should be taken as the profit for 1 month?
Class 12 · Accountancy
→Why is the deceased partner’s share of profit up to the date of death calculated in a partnership firm?
Class 12 · Accountancy
→If the average annual profit of previous years is ₹10,20,000 and a partner dies 3 months after the beginning of the accounting year, what will be the estimated profit of the firm up to the date of death?
Class 12 · Accountancy
→If the deceased partner’s share of profit earned up to the date of death is credited to his capital account, what will happen to the capital account balance?
Class 12 · Accountancy
→A partner died after 8 months of the financial year. If the estimated annual profit is ₹2,76,000 and profit is earned at a uniform rate throughout the year, what is the estimated profit up to the date of death?
Class 12 · Accountancy
→When the partnership deed contains no provision, on what basis is the deceased partner’s share of profit up to the date of death generally estimated?
Class 12 · Accountancy
→If the deceased partner’s estimated annual share of profit, based on the previous year, is ₹7,68,000 and he dies 10 months after the beginning of the accounting year, what will be his time-apportioned share of profit up to the date of death?
Class 12 · Accountancy
→If the deceased partner’s estimated annual share of profit is ₹4,56,000, what will be the share of profit for the 11 months up to the date of death?
Class 12 · Accountancy
→For estimating a deceased partner’s share of profit up to the date of death, which information is essential for determining the relevant period?
Class 12 · Accountancy
→For calculating the deceased partner’s share of profit, if the firm’s estimated annual profit is ₹12,00,000 and the partner dies 2 months after the beginning of the financial year, what will be the firm’s estimated profit up to the date of death?
Class 12 · Accountancy
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