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X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.
- a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.
- b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.
- c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.
- d)None of the above.
Correct answer is option 'A'. Can you explain this answer?
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X, Y and Z are partners in a firm. At the time of division of profit f...
's capital and salary were as follows:
X - Rs. 50,000
Y - Rs. 70,000
Z - Rs. 80,000
X insisted that profits should be divided equally among the partners. Y argued that profits should be divided in proportion to their capital contribution, which was X - Rs. 50,000, Y - Rs. 70,000 and Z - Rs. 80,000. Z suggested that profits should be divided in proportion to the time and effort put in by each partner. After much discussion, they agreed to divide the profits in the following manner:
X - Rs. 60,000
Y - Rs. 70,000
Z - Rs. 70,000
X would receive an additional Rs. 10,000 to make the division equal. Y would receive the same amount as before, and Z would receive Rs. 10,000 less than before. This division was agreed upon as X had put in extra effort during the year and deserved to be compensated for it.
It is important for partners in a firm to have a clear understanding of how profits will be divided. This can help to avoid disputes and ensure that each partner is treated fairly. When there is a disagreement, it is important to discuss the issue openly and come up with a solution that is acceptable to all parties involved.
X - Rs. 50,000
Y - Rs. 70,000
Z - Rs. 80,000
X insisted that profits should be divided equally among the partners. Y argued that profits should be divided in proportion to their capital contribution, which was X - Rs. 50,000, Y - Rs. 70,000 and Z - Rs. 80,000. Z suggested that profits should be divided in proportion to the time and effort put in by each partner. After much discussion, they agreed to divide the profits in the following manner:
X - Rs. 60,000
Y - Rs. 70,000
Z - Rs. 70,000
X would receive an additional Rs. 10,000 to make the division equal. Y would receive the same amount as before, and Z would receive Rs. 10,000 less than before. This division was agreed upon as X had put in extra effort during the year and deserved to be compensated for it.
It is important for partners in a firm to have a clear understanding of how profits will be divided. This can help to avoid disputes and ensure that each partner is treated fairly. When there is a disagreement, it is important to discuss the issue openly and come up with a solution that is acceptable to all parties involved.
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X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer?
Question Description
X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer?.
X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer?.
Solutions for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
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Here you can find the meaning of X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs. 1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000 respectively.a)Profit of Rs. 6,000 will be distributed equally with no interest on either Capital.b)X will get the interest of Rs. 20,000 and the loss of Rs. 14,000 will be shared equally.c)All the partners will get interest on capital and the loss of Rs. 39,000 will be shared equally.d)None of the above.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 12 tests.
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