Question

x,y,z are partners in a firm . their capital on 1st april 2017 were as follow: x₹ 60000 ,y₹ 50000 z₹40000 gave a loan of10000to the firm.the partner deed continued the following clauses: interest on capital @ 5% p.a .interest on loan @ 6% p.a salary forz@₹1000 p.m to get rent of ₹500 p.m for the use of premises.​

Answer 1

Answer:

computation of the amount of the divisible profit

actual profit = 30,300 - (300+6000) = 24,000

interest on X's capital = 60,000×5/100 = 3000

interest on Y's capital = 50,000×5/100 = 2500

interest on Z's capital = 40,000×5/100 = 2000

salary to Z = 1000×12 = 12,000

interest on X's loan = 10,000×6/100×6/12 = 300

Y's building rent = 500×12 = 6000

divisible profit = 24,000 - (3000+2500+2000+12,000)

= 4500

share of partners in profit = 4500×1/3 = 1500 each to be transferred to their current account