Question

5. Ramu and Robert are partners sharing profits and losses in the ratio of 5 3. Give
entries for the following and give capital accounts of Ramu and Robert
(Ans : Capital Accounts : Ramu - 57,200 : Robert - 84
(a) Capital introduced by Ramur 50,000 and Robert80,000,
(b) Drawings by Ramu 5,000 and Robert 26,000.
(C) Interest on capital : Ramu<2,500 and Robert 4,000,
(d) Interest on drawings Ramui 300 and Robert 400.
(e) Profit transferred to General Reserve 9,000.
(1) Salary to Ramu 10,000 and Commission to Robert R7000.​

Answer 1

The Subsidiary Alliance System was “Non-Intervention Policy” used by Lord Wellesley who was the Governor-General (1798-1805) to establish the British Empire in India. According to this system, every ruler in India had to accept to pay a subsidy to the British for the maintenance of the British army.