X and Y are two partners with a capital of Rs. 30,000 and Rs. 20,000 respectively....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
X and Y are two partners with a capital of Rs. 30,000 and Rs. 20,000 respectively. They are allowed interest @10% on the total capital. If the profit before interest on capital is Rs. 4000, how much interest will be paid to the partners? A B C D Nil Rs. 1500, 1000 Rs. 2000, 3000 Rs. 1000, 1500 X and Y are two partners with a capital of Rs. 30,000 and Rs. 20,000 respectively. They are allowed interest @10% on the total capital. If the profit before interest on capital is Rs. 4000, how much interest will be paid to the partners? A B C D Nil Rs. 1500, 1000 Rs. 2000, 3000 Rs. 1000, 1500
Expert Answer:
Answer rating: 100% (QA)
Capital Capital of Y R 20000 Perofit Befperce So Xs i... View the full answer
Related Book For
Federal Taxation 2018 Corporations, Partnerships, Estates & Trusts
ISBN: 9780134550923
31st edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date:
Students also viewed these accounting questions
-
For a hypothetical reaction of A --> B occurring in the cell, the AG is +3 kJ/mol and the AG is -2 kJ/mol for a reaction occurring at 25C. What is the ratio of [A]/[B] found in the cell? 0.13 2.01 5...
-
Do by charpit Method.,.. details solution please z+px-x^2yq^2-x^3pq=0
-
Consider a social welfare function that is given by the Atkinson index, m/(1-7) where y = 2. Consider two income distributions: in economy 1, the top 10% earns $100k and the remaining 90% earns $10k,...
-
1.The purpose of using a balanced scorecard is for: Multiple Choice A.companies to make sure their business activities align with strategy. B.companies to compare themselves with their competitors....
-
Your seasonally adjusted monthly sales forecast is $382,190 + $4,011(Month number), where the month number is 1 for January 2006 and increases by 1 each month. The seasonal index for February sales...
-
Define the following: (i) COP, (ii) unit of refrigeration, and (iii) air conditioning.
-
The following MINITAB output presents a multiple regression equation. a. What percentage of the variation in the response is explained by the multiple regression equation? b. What percentage of the...
-
Santana Rey expects sales of her line of computer workstation furniture to equal 300 workstations (at a sales price of $3,000) for 2016. The workstations' manufacturing costs include the following....
-
Alvarado Company produced 2,900 units of product that required 6 standard direct labor hours per unit. The standard fixed overhead cost per unit is $2.55 per direct labor hour at 16,200 hours, which...
-
Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a stay-at-home parent and Walt is a high school teacher. His W-2...
-
(a) A pilot will black out if her acceleration exceeds a limit (typically ~ 5 gees). We don't want that on our space rockets! If the engines are firing at max burn rate and exhaust velocity, will she...
-
The United Kingdom is home to two long-haul airline carriers (carriers that fly between continents): British Airways and its rival, Virgin Atlantic. Although British Airways is the dominant company,...
-
In 2016, Stinson Dean faced a critical decision. A savvy trader employed by a firm that traded lumber as a commodity, Dean could see that the lumber market was ripe for a dramatic upswing as the home...
-
Felton Ltds inventory transactions for November 2019 were as shown below. Required (a) Using the information shown and assuming no losses of inventory, if Felton Ltd uses the periodic inventory...
-
The following information applies to the inventory of Carsons Camera Store as at 30 June 2019. Required (a) Calculate the ending inventory value as at 30 June 2019, applying the lower of cost and net...
-
On October 15, 2018, Richards Oil Corporation acquired a lease for $600,000. Richards decided not to drill on the lease during the first year. Wishing to retain the lease, Richards paid a delay...
-
Tanner-UNF Corporation acquired as a long-term investment $260 million of 6% bonds, dated July 1, on July 1, 2024. Company management has classified the bonds as an available-for-sale investment. The...
-
Suppose that a business sells 6-month subscriptions to its monthly magazine. On January 1, the company receives a total of $600 for 10 subscriptions. To record this transaction, the company debits...
-
Why might a taxpayer choose to forego the foreign- earned income exclusion? If the taxpayer does so in the current tax year, what negative tax consequences might this choice have in future tax years?
-
Sec. 351 Requirements. Al, Bob, and Carl form West Corporation and transfer the following items to West: The common stock has voting rights. The preferred stock does not. a. Is the exchange...
-
Flying Gator Corporation and its 100%-owned subsidiary, T Corporation, have filed consolidated tax returns for many years. Both corporations use the hybrid method of accounting and the calendar year...
-
A printed circuit board of mass \(1 \mathrm{~kg}\) is supported to the base through an undamped isolator. During shipping, the base is subjected to a harmonic disturbance (motion) of amplitude \(2...
-
An electronic instrument of mass \(10 \mathrm{~kg}\) is mounted on an isolation pad. If the base of the isolation pad is subjected to a shock in the form of a step velocity of \(10 \mathrm{~mm} /...
-
A single-degree-of-freedom system is used to represent an automobile, of mass \(m\), damping constant \(c\), and stiffness \(k\), which travels on a rough road that is in the form of a sinusoidal...
Study smarter with the SolutionInn App