Y and z are partners with capitals of RS. 25000 and 15000 respectively on 1 April,2016. Each partner is entitled to 9% p.a. interest on his capital .
Z is entitled to a salary of 6000 p.a. together with a commission of 6% of net profit remaining after deducting interest on capitals and salary and after charging his commission. The profits for the year ended 31st March, 2017 before making any of the above mentioned adjustment amount to 30800 . Prep
are partners capital account: (1) when capitals are fixed. and (2) when capitals are fluctuating.
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suvechhasahoo4213
15.04.2019
Accountancy
Secondary School
Y and z are partners with capitals of RS. 25000 and 15000 respectively on 1 April,2016. Each partner is entitled to 9% p.a. interest on his capital .
Z is entitled to a salary of 6000 p.a. together with a commission of 6% of net profit remaining after deducting interest on capitals and salary and after charging his commission. The profits for the year ended 31st March, 2017 before making any of the above mentioned adjustment amount to 30800 . Prep
are partners capital account: (1) when capitals are fixed. and (2) when capitals are fluctuating.
Explanation:
The solution is attached below.
Answer:
Z is entitled to a salary of 6000 p.a. together with a commission of 6% of net profit remaining after deducting interest on capitals and salary and after charging his commission. The profits for the year ended 31st March, 2017 before making any of the above mentioned adjustment amount to 30800 . Prep
are partners capital account: (1) when capitals are fixed. and (2) when capitals are fluctuating.
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