Question

K, P and H share profits in a partnership firm in
the ratio of 5:3:2 with fixed capitals of 40,000;
30,000 and 10,000 respectively. Partners are
entitled to interest on their capitals @10% p.a.
During the year, the firm earned a profit of 76,000.
Find the amount of interest on capital payable to
K, P and H respectively.​

Answer 1

Answer:

K=40,000×10/100

=4,000

P=30,000×10/100

=3,000

H=10,000×10/100

=1,000

INTEREST ON CAPITAL will be provided to k,p and h respectively

Answer 2

Answer:

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