Question

13. A and S are partner sharing profits in the ratio of 3:2. Firms pays Rs. 1,000 per month as salary to their
manager, N who has graduate and deposited Rs. 30,000 with the firm carrying interest @ 8% p.a. On 15 jan,
2014, it was decided to treat N as their partner w.e.f. 1st jan, 2010 at 1/5 share of profit. It was decided to treat
her deposit as capital carrying interest @ 6% p.a. like other partners. The firm's profits and Losses after above
adjustments were as under:
2010 → Rs.60,000
2011 → Rs.10,000 (loss)
2012 → Rs.80,000
2013 → Rs.89,000
Records necessary journal entries. and indicate the value involved in this decision
(6)​

Answer 1

Answer:

answer is 1

Explanation:

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