Question

Fluctuating Capitals
Q. 2 (A). On 1st April, 2016 A and B commenced business with Capitals of
*60,000 and 20,000 respectively. On 31st March, 2017 the trading profit (before
taking into account the provisions of deed) was 324,000. Interest on capitals is to be
allowed at 6% p.a. B was entitled to a salary of 6,000 p.a. The drawings of the
partners A and B were 16,000 and 34,000 respectively. The interest on Drawings for
4 being 200 and B 3100. Assuming that A and B are equal partners, prepare the Profit
& Loss Appropriation A/c and Partner's Capital Accounts as at 31st March, 2017.
(Ans. Divisible Profits 13,500; Capitals A 64,150 and B 329,850.]​

Answer 1

Answer:

4873467, 777655, is the answer

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