Anwar and Benoy are partners in a firm
sharing profits and losses in the ratio 5:3.
Their capital balance as on 1st January
2014 - Anwar Rs 40,000 and Benoy Rs
30,000 .As per the agreement the partners
are entitled to 6% interest per annum on
their capitals. On 1st June ,2014 Anwar
had
withdrawn Rs 5,000 and on 1st September
2014 ,Benoy had withdrawn Rs 10,000 out
of capital
Calculate the interest payable on the
capital of Anwar and Benoy during the year
ended 31st December ,2014
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3
Answer:
Interest on capital is payable @ 6% p.a. B is entitled to a salary of Rs.3,000 per month. Profit for ... Sajal and Kajal are partners sharing profits and losses in the ratio of 2 :
Answered by
5
Answer:
A and B are partners in firm sharing profits and losses in the ratio of 3:2. They admit C into partnership for 1/5
th
share. C brings in Rs.30,000 as capital and Rs.10,000 as goodwill. At the time of admission of C, goodwill appears in the Balance Sheet of A and B at Rs.3,000. The new profit sharing ratio of the partners will be 5:3:2. Pass necessary Journal entries.
Explanation:
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