Simran and Reema are partner sharing profit in the ratio of 3 is to 2 their capital as on 31 March 2019 where 2 lakh each where was current account had balance of 50000 and 25000 respectively interest on capital is to be allowed 5% the firm earned net profit of 300000 for the year ended 31 March 2020 appropriation account please give me
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50000 and Rs. 25000 respectively interest is to be allowed @5% p.a on balance in capital Accounts . the firm earned net profit of Rs. 3,00000 for the ... MArch , 2019 Pass the journal enteris for interest on capital and distribution of profit Also ... profit in the ratio of 3:2 their capital as on 31st March 2018 were Rs. 2,00,000 each ...
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