X: Y and Z
are partners in a firm
Their capitals as on Aprites, 2816
they introduced further
copliocels of 21,00,008,3 80,000
and 250,000 respectively.
21, 2017 y withdrew
e Isooo
Interest in to be alloweel @ 8%
to on the capidals, compute
is forest cas capidals for the
march D31,
2017
year ending
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X, Y and Z are partners in a firm.At the time of division of profit for the year there was dispute between the partners.Profits before interest on partner's capital was Rs.15,000 and Y demands interest at 24%p.a. on his loan of Rs.80,000. There was no agreement on this point.Calculate the amount payable to X, Y and Z respectively.
ANSWER
In the absence of partnership deed, Interest on loan at 6% will be calculated and also profit will be shared equally.
Interest on loan = 80000*6/100 = 4800.
Profit available for distribution = 15000 - 4800 = 10200
Profit distributed = 10200/ 3 = 3400.
Share of X = 3400.
Share of Y = 3400+4800 = 8200
share of Z = 3400.
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