Question

Q.2. Anna and Bobby were partners sharing profits and losses in the ratio of 5:3. On 1st April,
2014, their Capital Accounts showed balances of * 3,00,000 and * 2,00,000 respectively.
Calculate the amount of profit to be distributed between the partners if the Partnership
Deed provided for Interest on Capital @ 10% p.a. and the firm earned a profit of 45,000
for the year ended 31st March, 2015.
(AI 2016 )​

Answer 1

Explanation:

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