Question

X, Y and Z were partners sharing
profit & Losses in 2:2:1
Their capital as on 31st Mar
2020,were rs 8,00,000,
10,00,000 and 1200,000
respectively
During the amount withdrawn by Y
and Z.rs
200,000 and 3,00,000 respectively.
Interest on
drawing charged to them
rs30000and rsv50,000
Additional capital Introduced by X rs
300000 as on
1st Dec 2019. Calculate intrest on
capital @18 % pa
The net loss amounted rs 50,0000.
distributed
among the partners during the year
ended 31stMar 2020​

Answer 1

Answer:

1.no Interest On capital Is Allowed

2.No Interest on drawing is charged.

if the the firm incurring loss