Question

A,B and C were partners their fixed capitals 60000, 40000

Answer 1

Answer:

Their fixed capitals were Rs 60,000, Rs 40,000 and Rs 20,000 respectively. Their profit-sharing ratio was 2 : 2 : 1. According to the Partnership Deed, they were entitled to interest on capital @ 5% p.a. In addition, B was also entitled to draw a salary of Rs 1,500 per month. ... B= 40000 x 5% = 2000.