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X and Y are partners in …

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X and Y are partners in a firm having a capital balance of Rs.1,20,000 and Rs.80,000 respectively. They agree for interest on capital @ 5% p.a. at the end of the year. They suffer a loss of Rs.20,000. What amount of interest will be given to the partners ?

Posted by Prachi Singh 6 years, 9 months ago

CBSE > Class 12 > Accountancy

2 answers

Alisha Jameson 6 years, 9 months ago

If it is a 3 mark question then it is like this First calculate the ratio of the partners (if it is no specified )by:- X= 120000>< 5/100= 6000 Y= 80000>< 5/100= 4000 Ratio =6000/4000= 3:2 Second then lost must be transferred to partners capital a/cs as:- Loss transferred to x = 20000>< 3/5=12000 Loss transferred to y = 20000>< 2/5= 8000 Hope this will help ??

Bhavya Srivastava 6 years, 9 months ago

No interest in case of loss

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