Question

amrit pal and rajkumar started a partnership business on 1.1.2015 with capital contribution of 50,000 and 40,000 respectively sharing profits in the ratio of2:3.during the year they earned a profit of ₹30,000 after all appropriations. according to the partnership deed both the partners are entitled to salaries and 5% interest on capital. their drawings during the year amounted respectively ?​

Answer 1

Given : amrit pal and rajkumar started a partnership business on 1.1.2015 with capital contribution of 50,000 and 40,000 respectively sharing profits in the ratio of2:3.during the year they earned a profit of ₹30,000

To find : their drawings during the year amounted respectively

Solution:

amrit pal  capital contribution  = 50000  Rs

5% interest on capital = (5/100) 50000 = Rs 2500

Rajkumar capital contribution  = 40000  Rs

5% interest on capital = (5/100) 40000 = Rs 2000

Salaries of  Amritpal & Rajkumar not given

Let say  SA   & SR are their Annual Salary respectively

sharing profits in the ratio of2:3.

Total Profit = 30000 Rs

amrit pal share = (2/(2 + 3) ) * 30000 =  Rs 12000

Rajkumar share = (3/(2 + 3) ) * 30000 =  Rs 18000

amrit pal  Drawing = 2500 + SA + 12000 = Rs 14500 + SA

Rajkumar  Drawing = 2000 + SR + 18000 = Rs 20000 + SR

amrit pal  & Rajkumar  Drawing  Rs 14500 + SA   &  Rs 20000 + SR

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