Question

1. Mukut, Kirit and Rahul are partners. They have no deed of partnership, but agree, after the division
of profits, that the capital of each be credited with interest at 5% per annum for the year which has
just elapsed.
The capitals are fixed at : * 7,500 for Mukut, *5,000 for Kirit
and * 4,500 for Rahul.
Show how the interest on capital may be accounted for by entries in the partners' current accounts
only.​

Answer 1

Answer:

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Explanation:

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