Question

Raja and Ram started a partnership on 1st April, 2006. They contributed ₹ 80000 and ₹ 60000 respectively as their capital. The term of partnership agreement are as under: 1) Interest on capital and drawing are 12% and 10 p. a. respectively. 2) Raja and Ram to get a monthly salary of ₹2000 and ₹ 3000 respectively. 3) Sharing of profit or loss will be in the ratio of their capital contribution. The profit for the year ended 31st March, 2007 before making above appropriation were ₹ 1,00,300. The drawings of Raja and Ram were ₹ 40,000 and ₹ 50,000 respectively. Interest on drawings amounted to ₹ 2,000 for Raja and ₹ 2,500 for Ram. prepare profit and loss appropriation account and partners capital accounts.​

Answer 1

Answer:

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Perceived expected outcomes from convergence initiatives include: 1) Increase in Social Capital: Collective planning and implementation among different stakeholders will enhance social capital. This will improve management and work output.