Question

9 X & Y are partners in a firm having capitals of Rs. 80,000 & 60,000 respectively. Calculate
IOC @ 5% p.a. and show distribution of Profit Loss in the following cases ;
(a) if Net loss for the year is Rs. 10,000.
(b) if Net profit for the year is Rs. 8000.​

Answer 1

I have send pic. of solution but

Please NOTE : If there is any loss then no Interest on Capital will be charge until the agreement says even the firm involve in loss but interest on Capital should charge