Question

16. Puneet and Akshara were partners in a firm sharing profits and losses in
the ratio of 2:3. The following was the balance sheet of the firm as on
31st March, 2019
Balance sheet of Puneet and Akshara as on 31st March, 2019.
Liabilities Amount () Assets Amount ()
Capitals :
Sundry Assets 2,00,000
Puneet 90,000
Akshara 1.10,000 2,00,000
2,00,000
2,00,000
The profits 40,000 for the year ended 31st March, 2019 were divided
between the partners without allowing interest on capital @ 5% p.a. and
commission to Akshara @ 1,000 per quarter.
The drawings of the partners during the year were :
Puneet * 2,500 per month.
Akshara * 10,000 per quarter.
Showing your workings clearly, pass necessary adjustment entry in the
books of the firm.​

Answer 1

HEY dude your answer is

in the ratio of 2:2:1. Their capital balances on 01.04.2017 stood at rs 90000, rs 60000 and rs 40000

Hope this helps ❤️❤️

Answer 2

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in the ratio of 2:2:1. Their capital balances on 01.04.2017 stood at rs 90000, rs 60000 and rs 40000