kamal and vimal are partners in a firm sharing profit and losses as kamal 70% and vimal 30% .their respective capital as 1st April 2019 stands as 25000 and 20000 . the partners are allowed interest on capital @ 5% p.a. drawing of partners during the year ended 31th March 2020 were 3500 and 2500
profit for the year before allowing interest on capital and annually salary of vimal @ 3000 rs was rs 40000
10% of divisible profit is to be transferred to reserve
prepare partner's current A/c and. capital A/c
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