Question

and to
Fixed Capitals
Q.10. Y and Z are partners with capitals of 25,000 and 15,000 respectively on
Ist April, 2016. Each partner is entitled to 9% p.a. interest on his capital. Z is entitled
after deducting interest on capitals and salary and after charging his commission. The
to a salary of 6,000 p.a. together with a commission of 6% of Net Profit remaining
adjustments amount to 30,800. Prepare Partner's Capital Accounts: (1) when capitals
are fixed, and (ii) when capitals are fluctuating.
for the year ended 31st March, 2017 before making any of the above mentioned
(Ans. Divisible Profits 20,000.
When capitals are fixed :
Current A/c balances :Y 12,250 (Cr.); Z *18,550 (Cr.)
Capital A/c balances : Y 25,000 (Cr.); Z *15,000 (Cr.)
proſits
(1)​

Answer 1

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