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.

Antony and Akbar were partners who share profits and losses in the ratio of 3:2. Balance in their capital account on 1^st January 2018 was Antony Rs. 60,000 and Akbar Rs. 40,000. On 1^st April 2018 Antony introduced additional capital of Rs. 10,000. Akbar introduced additional capital of Rs. 5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31^st December 2018.

The capital account of Arivazhagan and Srinivasan on 1^st January 2017 showed a balance of Rs. 15,000 and Rs. 10,000 respectively. On 1^st July 2017, Arivazhagan introduced an additional capital of  Rs. 5,000 and on 1st September 2017 Srinivasan introduced an additional capital of Rs. 10,000. Calculate interest on capital at 6% p.a. for the year ending 31^st December 2017.

Velan is a partner who withdrew Rs. 20,000 on 1st April 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December 2018 and pass journal entries by assuming fluctuating capital method.

Rajan is a partner who withdrew Rs. 30,000 during the year 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December, 2018.

Priya and Kavitha are partners. Priya draws Rs. 4,000 at the end of each quarter. Interest on drawings is chargeable at 6% p.a. Calculate interest on drawings for the year ending 31st December 2018 using average period.

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.

What is a partnership deed?

What is meant by fixed capital method?

What is the journal entry to be passed for providing interest on capital to a partner?

Why is Profit and loss appropriation account prepared?

Jayaraman is a partner who withdrew Rs. 10,000 regularly in the middle of every month. Interest is charged on the drawings at 6% per annum. Calculate interest on drawings for the year ended 31st December, 2018.

Mannan and Ramesh share profits and losses in the ratio of 3:2 and their capital on 1st April, 2018 was Mannan Rs. 1,50,000 and Ramesh Rs. 1,00,000 respectively and their current accounts show a credit balance of Rs. 25,000 and Rs. 20,000 respectively. Calculate interest on capital at 6% p.a. for the year ending 31^st March, 2019 and show the journal entries.

Mani is a partner, who withdrew Rs. 30,000 on 1^st September, 2018. Interest on drawings is charged at 6% per annum. Calculate interest on drawings on 31^st December, 2018 and show the journal entries by assuming that fluctuating capital method is followed.

Mathew is a partner who withdrew Rs.20,000 during the year 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December 2018.

Kevin and Francis are partners. Kevin draws Rs. 5,000 at the end of each quarter. Interest on drawings is chargeable at 6% p.a. Calculate interest on drawings for the year ending 31^st March 2019 using average period.

Ram and Shyam were partners. Ram withdrew Rs. 18,000 at the beginning of each half year. Interest on drawings is chargeable @ 10% p.a. Calculate interest on the drawings for the year ending 31st December 2018 using average period.