Question

12. (Fixed Capital A/c) A firm has two partners X and Y. The following details are available :
Capital
Drawings
Interest on Capital
Salaries
X
50,000
7,000
5,000
9,000
11,000
Y
70,000
9,000
7,000
Commission
Penalty imposed
4.000
13,000
3.000
5,000
Transfer of Reserve
Prepare Current Account of partners
(Ans. X. 7 22,000; Y 7 13,000|

Answer 1

50,000

7,000

5,000

9,000

11,000

Y

70,000

9,000

7,000

Commission

Penalty imposed

4.000

13,000

3.000

5,000

Transfer of Reserve

Prepare Current Account of partners

(Ans. X. 7 22,000; Y 7 13,000|