Question

X,Yand z are partners in a firm sharing profits in 2:2:1 ratio. The fixed capitals of the partners were x 500000;y 500000and z 250000 respectively.the partnership deed provides that interest on capital is to be allowed @10%p.a. y is to be allowed an annual salary of 60000rs which has not been withdrawn. Profit for the year ended 31st march 2018 before interest on capital but capital but after charging y's salary amountedto 24000rs.a provision of 5%of the profit is to be made in respect of commission to the manager.prepare an account showing the allocation of profits.8

Answer 1

Y and x Y and x y z are the partners India film sharing sharing profits in 2 is to 2 is 200 so that its Capitals of the partners where x 5 lacs and Z is equal to 25 lacs respectively the partnership needed it provides that interest on capital is to be allowed 10% every to aloud an annual salary of 16 crore interest capital but after charging salary after charging salary salary salary allow 10% agree to adult and capital but of the changing salary with communition to manager prepare an account showing the approximately