Question

Who we way
AB and XY are partners in partnership firm sharing profit and loss in the
ratio of 7:3. As on 31.3.2020 the net profit of the firm is Rs. 15000. Salary of
both partners is Rs. 8000 and interest on drawing is Rs. 9000 during the
year. At the end of the year, net divisible profit for. ​

Answer 1

Salary A/c. Dr . 8000

Deficit A/c. Dr. 13000

To Net profit. 15000

To interest on drawings 9000

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Answer 2

16000 is the appropriate answer.

Explanation:

• The salary of each companion is Rs. 8000.
• Deficit A/c. Dr. 13000.
• To Net profit. of the organization is Rs. 15000.
• To hobby at the drawing is in the course of the year = 9000
• Profit = Divisible income + earnings - Interest on Drawings.
• 15000 = Divisible profits + 8000 -9000

Therefore, the Divisible profits are = 16000.

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