Question

Kavita and Leela are partners with capitals of 6,00,000 and 4,00,000 and sharing profits & losses in the ratio of 2 : 1. Their partnership deed provides that interest on capitals shall be provided @8% p.a. and it is to be treated as a charge against profits. Prepare relevant account to allocate the profit in the following
alternative cases :
(i) If profit for the year is 1,10,000
(ii) If profit for the year is 35,000
(iii) If loss for the year is 10,000​

Answer 1

Answer:

Their partnership deed provides that interest on capitals shall be provided @8% p.a. and it is to be treated as a charge against profits. Prepare relevant account to allocate the profit in the following.

Answer 2

Answer:

please mark brainliest