Question

2)
Examples
10,000 respectively. As per the agreement partners are allowed 10% interest on capital and
interest on Drawings is to be charged at 12% p.a. Anand gets salary of 2,500 per month and
Bharat is entitled to get commission @ 3% on net sales which is 3 5,00,000. The firm's profit is
260.000. Prepare partners capital account for the year ended 31st March 2019 under :
1) Fixed Capital Method 2) Fluctuating Capital Method
3
Solution : 1) Fixed Capital Method
Partner's Capital A/cs
Cr.
nr.
Anand and Bharat are partners sharing profits and losses in the ratio 2 : 3. On 1.4.2019 the
capital balance are Anand 60,000 and Bharat 30,000 their drawings are 12,000 and​

Answer 1

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2)Examples

10,000 respectively. As per the agreement partners are allowed 10% interest on capital and

interest on Drawings is to be charged at 12% p.a. Anand gets salary of 2,500 per month and

Bharat is entitled to get commission @ 3% on net sales which is 3 5,00,000. The firm's profit is

260.000. Prepare partners capital account for the year ended 31st March 2019 under :

1) Fixed Capital Method 2) Fluctuating Capital Method

3Solution : 1) Fixed Capital Method

Partner's Capital A/cs

Cr.

nr.

Anand and Bharat are partners sharing profits and losses in the ratio 2 : 3. On 1.4.2019 the

capital balance are Anand 60,000 and Bharat 30,000 their drawings are 12,000 and