The capital of x and y showed balances rs40000 and rs 20000 on 1april2012 they shares profit in the ratio of 3:2 they are allowed interest on capital @ 10%p.a and charged interest on drawing@ 12% p.a. x also advanced loan of rs10000 to the firm on 1august 2012
During the year x withdrew rs 1000 per month in the begnning of every month whereas y withdrew rs 1000 per month at the end of every month
The profit for the year ended 31 march 2013 before the above mentioned adjustment were rs 20960 show the distribution of profit and prepare the partners capital account
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try to ask small questions
because nobody will answer big questions
make it small n easy
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