Question : Akash, Naveen and Zaid are partners sharing profits in the ratio of 3: 2: 2. Zaid died on 1 st September 2016, The total amount owed by the firm to his executors was Rs. 60,000. The firm decided to pay him in three equal annual instalments carrying interest @ 6% p.a. beginning on 1st September 2017.

Choose the correct Journal.

Option 1: Zaid's Capital A/c Dr. 60,000
To Zaid's Executor's A/c 60,000

Option 2: Zaid's Capital A/c Dr. 60,000
To Zaid's Loan A/c 60,000

Option 3: Zaid's Capital A/c Dr. 60,000
To Bank A/c 60,00

Option 4: Zaid's Capital A/c Dr. 60,000
To Zaid's Executor's A/c 30,000
To Bank a/c 30,000

Question : Akash, Naveen and Zaid are partners sharing profits in the ratio of 3: 2: 2. Zaid died on 1 st September 2016, The total amount owed by the firm to his executors was Rs. 60,000. The firm decided to pay him in three equal annual instalments carrying interest @ 6% p.a. beginning

Question : Apurva, Dimple, Komal and Saloni are partners in a firm sharing profits and losses in the ratio of 2: 2: 1: 1. Dimple and Komal decided to retire from the firm. The goodwill of the firm was valued at Rs.9,00,000. Apurva and Saloni decided to share future profits and losses in

Question : Choose the incorrect journal entry. When Present Adjusted Capital (after adjustments) is more than the Proportionate Capital:

Question : Maanika, Bhari and Komal are partners sharing profits in the ratio of 6:4:1. Komal is guaranteed a minimum profit of Rs 2,00,000. The firm incurred a loss of Rs 2,20,000 for the year ended March 31st, 2018.
Choose an appropriate journal entry to be passed for

Question : Maanika, Bhari and Komal are partners sharing profits in the ratio of 6:4:1. Komal is guaranteed a minimum profit of Rs 2,00,000. The firm incurred a loss of Rs 2,20,000 for the year ended March 31st, 2018.
Choose an appropriate journal entry to be passed for