Question

Radha and Rukmini are partners in a firm with fixed capital 200000 and 300000 respectively they share profit ratio 1 ratio to both partner are entitled to is interest on capital 8% per annum in addition Rukmani in is entitled to a salary of 20000 per month business is being carried from the property owned by Radha on a yearly rent of 120000 net profit of the year ended 31 March 2018 before providing for rent was 550000

Answer 1

Answer:

They share profits in the ratio of 1: 2. Both partners are entitled to interest on capitals @ 8% per annum. In addition, Rukmani is entitled to a salary of $20,000 per month. Business is being ...