Accountancy, asked by batthjot1877, 3 months ago

A and B are partners in the ratio of 3:2. The firm maintains fluctuating capital accounts and the balance of the same as 31-03-2020 amounted to 1,60,000 and 1,40,000 for A and B resp. their drawings during the year were 30,000 each.

as per partnership deed interest on capital @10% p.a on opening capitals had been provided to them. calculate opening capitals of partners given that their profits were 90,000.


batthjot1877: A and B are partners in the ratio of 3:2. The firm maintains fluctuating capital accounts and the balance of the same as 31-03-2020 amounted to 1,60,000 and 1,40,000 for A and B resp. their drawings during the year were 30,000 each.

as per partnership deed interest on capital @10% p.a on opening capitals had been provided to them. calculate opening capitals of partners given that their profits were 90,000.

Answers

Answered by jsohi88
8

Answer :

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Answered by lodhiyal16
6

Answer:

Explanation:

Closing capital         1,60,000                         1,40,000

Add: Drawing              30000                             30000

less: Profit                   37800                                 25200

                                                                                                                           

                                  152200                               144800

Less: IOC                      13836                                   13164

                                                                                                                                     

Opening capital         138364                                   131636

Total closing capital    = 160000 + 1,40,000 = 3,00,000

Add : total drawing =  60,000

Less: Profit = 90,000

Total capital = 270,000

Interest = 10/100 * 270,000

Divisible profit = 90000 - 27000 = 63000

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