Question

X,Y,Z are patners there balance of l capital we're on 1 April 2019 500000,300000,200000 they firm made profit rupees 1500000 before charging following appropriation (1) interest on capital 10% P.A (2) salary X,y,Z, 2000,3000,5000 quarter (3) Z also intitle to get a commission at rate 25% after charging interest On capital, salary and his own commission (4) there current account balance is were 200000,150000 and 80000 (5)profit it's to be share on base of following categories upto (a) 300000 in the ratio of 2:2:1 (b) 6,60,000 in the ratio 1:1:1 (c) and the balance divided on the capital basis contribution in ratio

Answer 1

X,Y,Z are patners there balance of l capital we're on 1 April 2019 500000,300000,200000 they firm made profit rupees 1500000 before charging following appropriation (1) interest on capital 10% P.A (2) salary X,y,Z, 2000,3000,5000 quarter (3) Z also intitle to get a commission at rate 25% after charging interest On capital, salary and his own commission (4) there current account balance is were 200000,150000 and 80000 (5)profit it's to be share on base of following categories upto (a) 300000 in the ratio of 2:2:1 (b) 6,60,000 in the ratio 1:1:1 (c) and the balance divided on the capital basis contribution in ratio