Ravi and Mohan were partner in a firm sharing profits in the ratio of 7 5 Their respective fixed capitals were Ravi Rs 10,00,000 and Mohan Rs 7,00,000 The partnership deed provided for the following (i) Interest on capital 12 p a (ii) Ravi's salary Rs 6000 per month and Mohan's salary Rs 60000 per...

Wrong Profit Distributed Interest on capital omitted Salary to be provided ...

Ravi and Mohan were partner in a firm sharing profits in the ratio of 7:5. Their...

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

See More Books

Posted Date: Jan 06, 2021 06:24 AM

See More Questions

Suppose the Fed lowers the federal funds rate target. How will this action likely affect both the federal funds rate and the money supply?
A study is being conducted by a group of insurance brokers to analyze whether or not pet owners who do not have pet insurance would opt for medical treatment for their pet if the cost of the...
The Keynesian belief that the aggregate supply curve is relatively flat in the short run means that they expect their policies to cause a small increases in output and much inflation b small...
International Markets Project You have been hired as a globalization specialist by Kwik-E-Mart. Kwik-E-Mart is a large retailer that has outgrown its domestic market and seeks to expand its...
What are the two main decisions to be made in the business definition stage of planning a direct marketing strategy?
Consider point a which is 72cm north of a 3.8μC point charge, and point b which is 88cm west of the charge (Fig. 17-26). Determine. (a) Vba = Vb Va and. (b) Eb = Ea (magnitude and direction). 72...
When the Concepcions went to AT&T to get a phone, they were confused as to why they were paying money for the phone when it was advertised as being free. They had to pay sales tax on the full normal...
Eckert Company is involved in producing and selling high-end golf equipment. The company has recently been involved in developing various types of laser guns to measure yardages on the golf course....
What are the capabilities of online analytical processing (OLAP)? What is the value of this tool to business? Is OLAP much different from data mining and warehousing? Explain..!
Ryan and Blake Lively are married filing jointly taxpayers. Ryan's birthdate is August 10, 1982 and Social Security number is 434-14-4448. Blake's birthdate is March 19, 1983 and their Social...
Can you please explain brown and trevino concept on ethical leadership, linked into the two pillars of ethical leadership?
Suppose that Mahesh is a typical Buffalo Bills fan, and his demand curve for Bills football games is: P = 120 10G where G is the number of games the fan attends. a. If the Bills want to sell him a...
Suppose that the WNBAs Los Angeles Sparks raise ticket prices from $50 to $60 per seat and experience a 5 percent decline in tickets sold. What is the elasticity of demand for tickets?
In the late 1930s and early 1940s, Joe Louis handily defeated a series of opponents who came to be known as the Bum of the Month Club. Use what you know about rank-order tournaments to explain how...
Suppose the NBPA had staged a strike at the depths of the Great Recession in 2009. What would economic conditions have done to the contract zones of the NBA and the NBPA?
Why was the NFL able to exclude black players in the 1930s? Why did this color line collapse so quickly in the early 1950s?
A cement block accidentally falls from rest from the ledge of a 53.6-m-high building. When the block is 19.1 m above the ground, a man, 1.90 m tall, looks up and notices that the block is directly...
Parkin Industries, a U.S. company, acquired a wholly-owned subsidiary, located in Italy, at the beginning of the current year, for 200,000. The subsidiary's functional currency is the euro. The...
The simple Keynesian model can be analyzed in terms of the TE-TP framework. 1. List the different names for the TE-TP framework. 2. Explain how a total expenditures curve is derived, and what causes...
Housing prices rose in the period before the financial crisis. 1. Explain how the Feds pursuit of a low federal funds target during the period 2002-2005 led to higher housing prices. 2. Explain how a...
Will a union behave differently if it wants to get all of its members employed instead of maximizing the total wage bill? Explain your answer.
Define human communication.
Perceiving your communication as effective while those around you perceive it as ineffective is known as ______________.
Visit any of the websites for major social media companies (Facebook, Twitter, LinkedIn, etc.). Under the About Us section, read the company mission statement and goals for the organization. Do you...

Ravi and Mohan were partner in a firm sharing profits in the ratio of 7:5. Their...

Question:

Expert Answer:

Wrong Profit Distributed Interest on capital omitted Salary to be provided ... View the full answer

Economics

Students also viewed these accounting questions