0. 12. A, B and C entered into partnership on 1st April 2020 with capitals of 310,00,000, 78,00,000 and 35,00,000 respectively. On 1st July 2020, B advance $2,00,000 and on 1st December 2020 C advanced 1,00,000 by way of loans to the firm, The Profit and Loss Account for the year ended 31.3.2021 disclosed a profit of *7,70,000 but the partners could not agree upon the rate of interest on loans and the profit sharing ratio. Prepare partner's Capital A/cs and Loan A/cs. write answer
Answers
Answered by
0
Answer:The answer is 2,00,000
Explanation:
Dear Student Since PSR and rate of Interest on Loan is not decided, Provisions of Partnership act in case of absence of Partnership deed shall be applied ...
Similar questions