Y and z are partners with capital of rs25000 and rs15000 respectively on 1st April 2019 each partner is entitled to 9%pa interest on his capital z is entitled to a salary of rs 6000 p.a. together with a commission of 6% of net profit remaining after deducting interest on capital and salary and after charging his comission the profits year for the ended 31st March 2020 before making any of the above mentioned adjustment amount to rs 30800 prepare partners capital account when capital are fixed and when capital are fluctuating
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Particulars
Y
Z
Particulars
Y
Z
Balance C/d
25,000
15,000
Interest on Capital (WN:1)
2,250
1,350
Z’s Salary
6,000
Commission (WN:2)
1,200
Profit and Loss (WN :3)
10,000
10,000
Balance C/d
37,250
33,550
37,250
33,550
37,250
33,550
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