Questions On Profit Share And Managerial Accounting Homework Help
- August 28, 2017
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- Category: Accounting QA
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1.P, Q, R are partners in a firm with capitals of Rs.50,000, Rs.30,000 and 25,000 respectively sharing profits & Losses in the ratio of 2:2:1. General reserve Rs.15,000, Good will Rs.30,000 revaluation profit Rs.7,050 Q is Retiring from the firm.What is the amount payable to Q ?
2.ABC partners, each partner has an individual life policy of Rs.50000 on 31st August, partner ‘B’ died and the surrender value of each policy at death is Rs.2,000. What is the Share of partner ‘B’(equal sharing)?
3.A, B, C are partners sharing profits in the ratio of 7:5:4. The profits of the firm for the year ended 31-3-2009 were estimated as Rs.2,40,000. C died on 30th June 2008. What is share of C in profits in financial year 2008-09?
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4.How managerial incentives affect financial decision?
5. What is the fundamental difference between managerial and financial accounting?
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