Question

Santa and Vandana were partners in a firm sharing profits in the ratio of their capitals
contribution on commencement of business which were Rs.400.000 and Rs. 3.00.000
respectively. The lat started business on 1st April 2018. According to the partnership
agreement
A. Every year, in case of proti Rs. 50,000 or 10% of the profit whichever is more will be
transferred to general reserve.
B. interest on capital is to be allowed at the rate of 12% per annum and interest on
drawing is to be charged Q 10% per annum.
C. Sarita and Vandana are to get a monthly salary of Rs. 10,000 and 15.000
respectively.
D. The profit for the year ended 31st March 2019 before making above appropriations
WBS RS 6.00,000​

Answer 1

Answer:

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Answer 2

Explanation:

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