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Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partners
Case 1. If the Profit before interest for the year is 25,000.
Case 2. If the Profit before interest for the year is 15,000.
Case 3. If the Loss before interest for the year is 25,000?
Case 1. If the Profit before interest for the year is 25,000.
Case 2. If the Profit before interest for the year is 15,000.
Case 3. If the Loss before interest for the year is 25,000?
Most Upvoted Answer
Illustrati Bharat are partners sharing profits and losses in ratio and...
Case 1: Profit before interest for the year is 25,000
- Total profit before interest: 25,000
- Total loan from partners: 6,00,000 (Akhil's loan: 4,00,000 + Bharat's loan: 2,00,000)
Calculation:
- Akhil's share of interest on loan: (4,00,000/6,00,000) * 25,000 = 16,667
- Bharat's share of interest on loan: (2,00,000/6,00,000) * 25,000 = 8,333
- Remaining profit after interest: 25,000 - (16,667 + 8,333) = 0
Therefore, in this case, there is no profit left after paying the interest on the loans.
Case 2: Profit before interest for the year is 15,000
- Total profit before interest: 15,000
- Total loan from partners: 6,00,000 (Akhil's loan: 4,00,000 + Bharat's loan: 2,00,000)
Calculation:
- Akhil's share of interest on loan: (4,00,000/6,00,000) * 15,000 = 10,000
- Bharat's share of interest on loan: (2,00,000/6,00,000) * 15,000 = 5,000
- Remaining profit after interest: 15,000 - (10,000 + 5,000) = 0
Similar to Case 1, in this case as well, there is no profit left after paying the interest on the loans.
Case 3: Loss before interest for the year is 25,000
- Total loss before interest: 25,000
- Total loan from partners: 6,00,000 (Akhil's loan: 4,00,000 + Bharat's loan: 2,00,000)
Calculation:
- Akhil's share of interest on loan: (4,00,000/6,00,000) * 25,000 = 16,667
- Bharat's share of interest on loan: (2,00,000/6,00,000) * 25,000 = 8,333
- Remaining loss after interest: 25,000 - (16,667 + 8,333) = 0
In this case, the entire loss is absorbed by paying the interest on the loans, and there is no loss left to distribute between the partners.
- Total profit before interest: 25,000
- Total loan from partners: 6,00,000 (Akhil's loan: 4,00,000 + Bharat's loan: 2,00,000)
Calculation:
- Akhil's share of interest on loan: (4,00,000/6,00,000) * 25,000 = 16,667
- Bharat's share of interest on loan: (2,00,000/6,00,000) * 25,000 = 8,333
- Remaining profit after interest: 25,000 - (16,667 + 8,333) = 0
Therefore, in this case, there is no profit left after paying the interest on the loans.
Case 2: Profit before interest for the year is 15,000
- Total profit before interest: 15,000
- Total loan from partners: 6,00,000 (Akhil's loan: 4,00,000 + Bharat's loan: 2,00,000)
Calculation:
- Akhil's share of interest on loan: (4,00,000/6,00,000) * 15,000 = 10,000
- Bharat's share of interest on loan: (2,00,000/6,00,000) * 15,000 = 5,000
- Remaining profit after interest: 15,000 - (10,000 + 5,000) = 0
Similar to Case 1, in this case as well, there is no profit left after paying the interest on the loans.
Case 3: Loss before interest for the year is 25,000
- Total loss before interest: 25,000
- Total loan from partners: 6,00,000 (Akhil's loan: 4,00,000 + Bharat's loan: 2,00,000)
Calculation:
- Akhil's share of interest on loan: (4,00,000/6,00,000) * 25,000 = 16,667
- Bharat's share of interest on loan: (2,00,000/6,00,000) * 25,000 = 8,333
- Remaining loss after interest: 25,000 - (16,667 + 8,333) = 0
In this case, the entire loss is absorbed by paying the interest on the loans, and there is no loss left to distribute between the partners.
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Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000?
Question Description
Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000?.
Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000?.
Solutions for Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? defined & explained in the simplest way possible. Besides giving the explanation of
Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000?, a detailed solution for Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? has been provided alongside types of Illustrati Bharat are partners sharing profits and losses in ratio and Bharat a capitale and 1,00,000 respectively. On 1st October, 2021, Akhil and Bharat gave loans 400.000 and 7 200,000 respectively to the firm. There is no agreement as to rate usterest on the losan by partner. Determine the amount of profit or loss for the year ended 31st March, 2022 in each of the following cases to be distributed between the partnersCase 1. If the Profit before interest for the year is 25,000.Case 2. If the Profit before interest for the year is 15,000.Case 3. If the Loss before interest for the year is 25,000? theory, EduRev gives you an
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