XY and Z are partners in a firm.
Partnership Deed provides for
interest on capital but profits of the
firm are not sufficient,then the net
profits will be distributed among
partners in :*
O Capital ratio
O Profit sharing ratio
O Equally
O Agreed ratio
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Explanation:
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In the absence of partnership deed, no interest on capital is provided. Interest on loan is calculated at 6%. Interest On loan at 6% will be 4800 Rs. Remaining 1200 Rs. will be distributed equally among partners 400 Rs. to each partner. Share of X and Z will be 400 Rs. and share of Y will be 400+ 4800(interest on loan) = 5200 Rs.
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