Question

The Capital Accounts of Alka And Archana showed credit balances of Rs

400000 and 300000 respectively , after taking into account drawings and net

profit of 200000 . The drawings during the year 2018-19 were

i) Alka withdrew 10000 at the end of each quarter

ii) Archana ‘s drawings were

31st May ,2018 8000

01st November ,2018 7000

1

st February ,2019 5000

Calculate Interest on Partner’s Capitals @10% p.a and Interest on Partner’s

drawings @6% p.a. for the year ended 31 March ,2019​

Answer 1

Answer:

The capital accounts of Alka and Archana showed credit balances of 4,00,000 and 3,00,000 respectively, after taking into account. drawings and net profit of 72,00,000.