Girish and Balwant are partners in a firm. On 1st April, 2020, their capitals were * 4,00,000 and *6,00,000. The profit for 2020-21 was 5,24,000. Partnership deed provided that interest on drawings/capital to be calculated @ 10 %, Balwant had drawings of 1,00,000. He had withdrawn this amount on 31st December 2020. In addition to this, rent (in case of any partner providing his premises for business) for premises decided to be * 8,000 per month. Due to lockdown during a pandemic, the partners decided to shut down the factory and shifted to Girish's farmhouse on 1st August 2020. 39. What is the amount transferred to the profit loss appropriation account? a. 5,24,000 b. Can't say c. 5,00,000 d. 4,88,000 40. What is the interest in drawings of Balwant? a. * 10,000 b. 22,500 c. Can't say d. 7,500 41. What is the total interest on capital of both partners? a. 50,000 b. 2,00,000 c. Can't say d. 1,00,000
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