Question

 X and Y are partners in the ratio of 3: 2. Their capitals are Rs.2,00,000 and Rs.1,00,000 respectively. Interest on capitals is allowed @ 8% pa Firm incurred a loss of Rs. 60,000 for the year ended 31st March 2019. Interest on Capital will be ​

Answer 1

Answer:

X interse on capital = 13120

Y interest on capital = 6080

Explanation:

firstly, we distribute loss of the firm between the partners in ratio 3 : 2

X's loss = 60000 × 3/5 = 36000

Y's loss = 60000 × 2/5 = 24000

loss will be deduct from their capital

x's New capital = 200000 - 36000 = 164000

Y's New capital = 100000 - 24000 = 76000

Now,

X's interest on capital = 164000 × 8/100

= 13120

Y's Interst on Capital = 76000 × 8/100

= 6080

DONE!