Question

Anubha and Kajal entered into partnership sharing profits and losses in the ration of 2:1. Their capitals were Rs90,000 and Rs60,000. The profit during the year were Rs 45,000. According to partnership deed, both partners are allowed salary, Rs 700 per month to Anubha and Rs 500 per month to Kajal. Interest is allowed on capital @5% p.a. The drawings at the end of the period were Rs8,500 for Anubha and Rs6,500 for Kajal. Interest is to be charged@5%p.a. on drawings. Prepare partnership capital accounts, assuming that the capital accounts are fluctuating.

Answer 1

Answer:

Explanation: Not sure

Answer 2

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