Question

Arun and Bhuvnesh agreed to share profits and losses as follows - First Rs. 25,000 to Arun and the balance in

3 :2 The profit for the year was Rs. 30,000, which has already been divided among the partners. The opening

capitals of the partners are Arun Rs. 50,000 and Bhuvnesh Rs. 36,000. Interest on capitals was omitted from the

books which to be allowed at 6 % p.a. Adjust the same.​

Answer 1

Answer:

Arun and Bhuvnesh agreed to share profits and losses as follows - First Rs. 25,000 to Arun and the balance in

3 :2 The profit for the year was Rs. 30,000, which has already been divided among the partners. The opening

capitals of the partners are Arun Rs. 50,000 and Bhuvnesh Rs. 36,000. Interest on capitals was omitted from the

books which to be allowed at 6 % p.a. Adjust the same.