In the absence of a partnership deed, profits of the firm will be shared by the partners in 

Which of the following is the incorrect pair?

In the absence of an agreement, partners are entitled to 

Pick the odd one out

Profit after interest on drawings, interest on capital and remuneration is Rs. 10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

Mannan and Ramesh share profits and losses in the ratio of 3:1. The capital on 1^st April 2017 was Rs. 80,000 for Mannan and Rs. 60,000 for Ramesh and their current accounts show a credit balance of Rs. 10,000 and Rs. 5,000 respectively. Calculate interest on capital at 5% p.a. for the year ending 31^st March 2018 and show the journal entries.

Vennila and Eswari are partners. Vennila draws Rs.5,000 at the beginning of each half year. Interest on drawings is chargeable at 4% p.a. Calculate interest on drawings for the year ending 31^st December 2018 using average period.

Define partnership.

From the following balance sheets of Brindha and Praveena who share profits and losses in the ratio of 3:4, calculate interest on capital at 6% p.a. for the year ending 31^st December 2017.

 On 1^st July 2017, Brindha introduced an additional capital of Rs. 6,000 and on 1st October 2017, Praveena introduced Rs. 10,000. Drawings of Brindha and Praveena during the year were Rs. 5,000 and Rs. 7,000 respectively. Profit earned during the year was Rs. 31,000.

Arul is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 12% p.a. During the year ended 31st December 2018 he drew as follows:

Calculate the amount of interest on drawings. 

Syed, Samuel and Sudhakar are partners in a firm sharing profits and losses equally. As per the terms of the partnership deed, Samuel is allowed a monthly salary of Rs. 2,000 and Sudhakar is allowed a commission of Rs. 6,000 per annum for their contribution to the business of the firm. You are required to pass the necessary journal entry. Assume that their capitals are fluctuating.

From the following information, prepare capital accounts of partners Shanthi and Sumathi, when their capitals are fixed.

From the following information, prepare capital accounts of partners Mannan and Sevagan, when their capitals are fluctuating.