Question

X and y are partners sharing profitas or losses equally (13 their capitals as of 2010 were 7 60,000 and esd pe respectively. interest is allowed on the capitals at 18%. pa. x is allowed a mentally salary of = 1,500 and 1 is allowed an annual commission of € 12,000. their drowings during the year were: x - € 10,000 and y - €3,000 and the for interest on their drawings amounted to 7 1,000 and 7800 respectively. the profit of the form for the year ending ahal.2010 after adjusting the abow items stood at 7 30,000. prepare partners capital account

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Answer 1

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