Question

Krishan and Baldev are partners sharing profits and losses equally. On 1st April, 2016, their
capitals were 40,000 and 36,000 respectively. The net profit for the year ending 31st March,
2017 without charging interest on capital, amounted to 11,200. Calculate the amount to which
each of the partners is entitled :
When the partnership deed provides for interest on capital @ 10% p.a., prior to division
(a)
thereof and
when it is silent as regards to interest on capital.​

Answer 1

Answer:

=76, 000

the combined Krishna and baldev are partners

the profit and loss are combined.... on a salary.