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Introduction to Banking and Transaction

From which da...

Question

From which date have all Banks started sharing their ATM free of cost for transactions?

A

January 1, 2009

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B

April 1, 2009

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C

July 1,2009

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D

September 1, 2009

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Solution

The correct option is A April 1, 2009
Before April 1, 2009, if you had to use the ATM of any bank with whom you don't have any banking relationship, you ended up paying fees

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Q. Sumit, Punit, and Ramit started a business by investing their capitals in the ratio of 1:2:3. At the end of the business term, they received their shares of profit in the ration of 1:2:3. Find out the ratio of time for which they invested their capitals?

Q. X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 1st April, 2009, Y retires from the firm. X and Z agree that the capital of the new firm shall be fixed at ₹ 2,10,000 in the profit-sharing ratio. The Capital Accounts of X and Z after all adjustments on the date of retirement showed balance of ₹ 1,45,000 and ₹ 63,000 respectively. State the amount of actual cash to be brought in or to be paid to the partners.

Q. X and Y are sharing profits in the ratio of 2: 1. They admitted Z into the firm with 1/4 shares in profits for which he brings 15,000 as his share of capital. The partners decide to have their capitals according to the new profit sharing ratio. As a result, the adjusted capital of Y will be:

Q. X, Y and Z carrying on business as merchants and sharing profits and losses in the ratio of 2 : 2 : 1 ,dissolved their firm as at 31st March, 2018 on which date their Balance Sheet was as follows:


Liabilities				₹	Assets			₹
Sundry Creditors				41,500	Cash at Bank			22,500
Bills Payable				20,000	Stock			80,000
Bank Loan				40,000	Debtors		50,000
General Reserve				50,000	Less: Provision for Doubtful Debts		2,500	47,500
Investments Fluctuation Reserve				40,000	Investments			55,000
Capital A/cs:					Premises			1,51,500
X		75,000
Y		75,000
Z		15,000		1,65,000


				3,56,500				3,56,500

A bill for ₹ 5,000 received from Mohan discounted from bank is not met on maturity.
The assets except Cash at Bank and Investments were sold to a company which paid ₹ 3,25,000 in cash.The Investments were sold and ₹ 56,500 were received. Mohan proved insolvent and a dividend of 50% was received from his estate . Sundry Creditors (including Bills Payable) were paid ₹ 57,500 in full settlement. Realisation Expenses amounted to ₹ 15,000.
Prepare Realisation Account , Partners' Capital Accounts and Bank Account .

f (x) = \frac{e^{2 x - 1}}{1 + e^{2 x - 1}}

, then the values of

f (\frac{1}{2009}) + f (\frac{2}{2009}) + f (\frac{3}{2009}) + . . . . + f (\frac{2008}{2009})

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