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12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    In a firm, 10% of net profit after deducting all adjustments, including reserve is transferred to general reserve. The net profit after all adjustments but before transfer to general reserve is Rs.44,000. Calculate the amount which is to be transferred to reserve:

    A) Rs.2,500                       

    B) Rs.4,000              

    C) Rs.4,400               

    D) Rs.2,200

    Correct Answer: B

    Solution :

    [b] Rs.4,000
    Hint: 44,000 \[\times \frac{10}{110}\]= Rs.4,000


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