Question

(d) Profits would be shareu equally.
4. Partners P and Q have Capitals 4,00,000 and * 3,00,000 respectively as on 1st January
2021. P advanced 20,000 to Partnership firm on 1st July, 2021 as loan. There was no
agreement as to payment of interest on loan. The profits for year ended 31st December,
20% of this profit is to be transferred to a reserve account. The partners cannot agree either
loan or capital.
upon
2021 amounted to 7 52,000 prior to provision for interest, if any, either
as to proportion in which profits are to be divided or upon question of interest. How will
you divide profits assuming that there is no Partnership deed.
Ans. Share of profit-P=20,500 ; Q = 20,500.
PRIATION ACCOUNT​

Answer 1

there are some mistakes in question like profit should be 52000 , there will be interest on loan at rate 6%on half yearly basis and then in reserve the amount of profit is tranfser ₹10400 and then the answer will be match

Answer 2

Answer:

your answer is 300000

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