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Pooja and archana are partners in …

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Pooja and archana are partners in a firm sharing profits and losses in the ratio2:1.their capitals accounts as on 1st april,2017 stand at 70000 and 30000 respectively.the partners are allowed interest On capital @10%p.a.the drawimgs og the partners during the year ended 3qst march 2018 amounted to 4800 and 3600 respectively .interest is charged on drawing at the rate of@10%p.a. pooja has given a loan to a firm as on 1st november ,2017 of 20000.the profits of the firm for the year ended 31st march 2018 before above adjustment was 80000.10% of thos profit is to be kwpt in reserve account. Current account balances on 1st april 2017 were pooja 5000(cr.);archna23000(dr)

Posted by Simran Cheema 6 years, 2 months ago

CBSE > Class 12 > Accountancy

2 answers

Naveen Sharma 2 years, 3 months ago

3 5 Pooja and Archna are partners in a firm sharing profits and losses in the ratio of 2:1. Their fixed capital accounts as on 1st April, 2021 stand at ₹70,000 and ₹30,000 respectively. The partners are allowed interest on capital and charged interest on drawings @ 10% p.a. The drawings of the partners during the year ended 31st March, 2022 amounted to ₹4,800 and *3,600 respectively. Pooja has given a loan to firm as on 1st August, 2021 of 20,000. The profit of the firm after all adjustments was 72,000. Current A/c balances on 1st April, 2021 were Pooja ₹5,000 (Cr.); Archna 23,000 (Dr.). Prepare Partners' Current Accounts on 31st March, 2022.

Sumit Chauhan 4 years, 4 months ago

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