Question

29,500
16. Subhash and Vikas started a partnership firm on 1" April 2017 with capitals of 10,000 and 5,000 respectively.
They agreed to share profits in capital ratio and closed their accounts on 31 March 2018. Calculate their capital ratio
and interest on Capital @ 5% p.a.
Date
Capital Introduced Capital Withdrawn
Subhash Vikas Subhash
Vikas
1 June 2017
5,000
2,500
1" September 2017
11.500
2,000
1 December 2017
3,000
2,000
19 February 2018
1,500
500
[Ans, Capital ratio 3 : 2, Interest on Capital: Subhash = 694 and Vikas = 463]
that​

Answer 1

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