Question

62. Simrat and Bir are partners in a firm sharing profits and losses in the ratio of 3:2.On 31st March, 2020 h
closing the books of account, their Capital Accounts stood at * 4,80,000 and 6,00,000 respectively (
1st May, 2019, Simrat introduced an additional capital of 1,20,000 and Bir withdrew * 60,000 from
capital. On 1st October, 2019, Simrat withdrew * 2,40,000 from her capital and Bir introduced 73,000
Interest on capital is allowed at 6% p.a. Subsequently, it was noticed that interest on capital @ 6% pa
had been: Simrat-1,20,000 and Bir-*60,000.
Compute the interest on capital if the capitals are (a) fixed, and (b) fluctuating.​

Answer 1

Answer:

There 2 photos check it out. a) is fixed capital

and b) is fluctuating capital