Arun, Ajay and Dinesh are partners in a firm. At the time of division of profit for
the year there was dispute between partners (due to absence of deed) profits
before interest on partner's capital was 60,000 and Ajay determined interest
@ 24%p.a. on his loan of 8,00,000. Amount payable to Arun, Ajay, Dinesh
respectively will be:
399
[Class XII : Accountancy)
Answers
Answered by
10
Answer:Rs.4,000 for Arun ,Rs.52,000 for Ajay and Rs.4,000 for Dinesh
Explanation:
Answered by
17
Ajay amount = 52,000
Arun amount = 4,000
Dinesh amount = 4,000
Explanation:
Given:
Profits before interest on partner's capital = 60,000
Ajay's interest = 24% p.a. on 8,00,000
Computation:
In the absence of deed, profit, and loss sharing equally.
In the absence of deed, Interest on loan of partner is paid @ 6%
Ajay's interest = 6% × 8,00,000
Ajay's interest = 48,000
Profits after interest on partner's capital = 60,000 - 48,000
Profits after interest on partner's capital = 12,000
Each share = 12,000 / 3 = 4,000
Ajay amount = 48,000 + 4,000 = 52,000
Arun amount = 4,000
Dinesh amount = 4,000
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