Question

the second case, there is a loss of 900 which is divided between P and in 2:1 ratio.
26. (Interest on Capital/Drawings and Profits given) From the following Balance Sheet of
Rich and Poor, calculate interest on capital @ 10% p.a. for the year ended 31-3-2015.
BALANCE SHEET
Labilities
Assets
20,000 Sundry Assets
16,000 Drawings Rich
the Appropriation Alc
8.000
44,000
During the year ended 31-3-15 Rich's drawings were 3,000 and Poor's Drawings were
76,000. Profits during the year were 12,000.
Ans. Rich 1.900: Poor 2,000)
27. (Comprehensive Question on interest on capital)
Money and Rupee are partners sharing profit in ratio of 2:1. Their capital were 1.20.000​

Answer 1

18.

The capital accounts of Alka and Archana showed credit balances of

4,00,000 and 33,00,000 respectively, after taking into account

drawings and net profit of = 2,00,000. The drawings of the partners

during the year 2018 - 19 were:

Alka withdrew 10,000 at the end of each quarter.

(ii) Archana's drawings were :

₹

31st May, 2018

8,000

1st November, 2018 7,000

1st February, 2019 5,000

Calculate interest on partners' capitals @ 10% p.a. and interest o

partners' drawings @ 6% p.a.

for the year ended 31st

March, 2019