Question

Partnership firmabc and capitals of rupees 20000 10000 and 40000 respectively on which they are entitled to interest at 5% per annum the prophet in the year before charging interest on capital amounted to rupees 1100 prepare profit and loss account and partners capital account interest on capital is paid and profit and losses are equally

Answer 1

Explanation:

Partnership firmabc and capitals of rupees 20000 10000 and 40000 respectively on which they are entitled to interest at 5% per annum the prophet in the year before charging interest on capital amounted to rupees 1100 prepare profit and loss account and partners capital account interest on capital is paid and profit and losses are equally.

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