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In The Absence Of An Agreement Partners Are Entitled To 1 Point

82. In a partnership company, on the first day of each month of the year, a partner withdrew ₹5,000 per month for personal expenses. If the interest on subscriptions is calculated at 6% per year, the interest is: (C.S. Foundation, Dec. 2012) (A) ₹3,600 (B) ₹1,950 (C) ₹1,800 (D) ₹1,650 31. On 1 June 2018, a partner introduced additional capital into the company, which amounts to ₹50,000. In the absence of a partnership instrument, it will receive interest on 31 March 2019: (A) ₹3,000 (B) Null (C) ₹2,500 (D) ₹1,800 12. X, Y and Z are partners who share profits and losses equally. Their capital holdings as at 31 March 2012 are ₹80,000, ₹60,000 and ₹40,000 respectively. Your personal fortune is worth as follows: X – ₹20,000, Y – ₹ 15,000 and Z – ₹ 10,000. The extent of their responsibility in the company would be: (C.S. creation; June 2013) (A) X – ₹ 80,000: Y – ₹ 60,000: and Z – ₹ 40,000 (B) X – ₹ 20,000: Y – 15,000: and Z – ₹ 10,000 (C) X – ₹ 1,00,000: Y – ₹ 75,000: and Z – ₹ 50,000 (D) Equal A partner who pays the company an additional advance other than the amount of its capital for commercial purposes, is entitled to: interest of 6% per annum. It is payable on the property of the business, as if it were an expense.

It is therefore payable even if no profit is made. 50. In a partnership lrm, Partner A is entitled to a monthly salary of ₹ 7,500. At the end of the year, the company made a profit of ₹75,000 after calculated T`s salary at the same level. If, after receiving his commission, the manager is entitled to a commission of 10% on the net profit, the manager`s commission is: (A) ₹7,500 (B) ₹16,500 (C) ₹8,250 (D) ₹15,000 § 12 (a) provides that any partner in a business partnership has the right to participate in the commercial procedure.