Question

Current a/c Rajan 7.280: Chandran 7,710)
10. Anil and Sunil commenced business as partners on 1st April 2008. Anil contributed
1,25,000 and Sunil contributed * 75,000 as their share of capital. The partners
decided to share profits and losses in the ratio of 2:1. Anil was entitled a salary of
* 1,500 per month. Interest on capital was to be provided a 6% p.a. The drawings of
Anil and Sunil for the year ending 315 March, 2009 were 12.000 and 24.000
respectively. The profits of the firm after providing for Anil's salary and interest on
capital were 36,000.
Draw up the capital accounts of the partners when:
(a) Capital are fluctuating
(b) Capital are fixed
HSE June 2012)​

Answer 1

Answer:

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