A, B and C are in partnership. On 1st Apr 2018, their capitals are A-Rs.500000, B-Rs.300000 and CRs.40000 (Dr.). As per the partnership deed, IOC is to be allowed @ 6% p.a. and IOD is to be charged @ 8% p.a. You find that: a) On 1st Jul 2018, A withdrew Rs.100000 against capital. b) B withdrew Rs.5000 per month during the year c) C withdrew Rs.60000 during the year The profit of the year ended 31st Mar 2019 amounted to Rs.384000. You are required to prepare partners’ capital accounts giving effect to the above items and the working notes for calculation of IOC and IOD.
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