Question

Ramu & Somu are equal partners. Prepare their capital accounts from the following information Ramu Somu Opening Capital 1,00,000 75,000 Drawing during the year 20,000 15,000 Salary 12,000 __ Interest on capital @ 10% P.a. and interest on drawing @ 8% P.a.

Answer 1

Explanation:

Ramu & Somu are equal partners. Prepare their capital accounts from the following information Ramu Somu Opening Capital 1,00,000 75,000 Drawing during the year 20,000 15,000 Salary 12,000 __ Interest on capital @ 10% P.a. and interest on drawing @ 8% P.a.