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l m and n are partners …

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l m and n are partners in a firm sharing profits and losses in the ratio of 2 is to 3 is to 5 on 1st April 2016 their fixed capital for rupees to LAX 3 lacs and 4 lacs respectively their partnership deed provided for the following interest on capital at 9% per annum interest on drawings at 12% per annum interest on partners Loan at 12% per annum on 1st July 2016 l brought rupees 100000 as additional capital and n with you rupees 100000 from east capital during the year l m and n with rupees 12000 18000 and 24000 respectively for their personal use on 1st January 2017 the form of retained a loan of rupees 150000 from M the net profit of the form ended 31st March 2017 after charging interest on EMS loan was rupees 85000

Posted by Sagarika Rai 4 years ago

ICSE & ISC > Class 12 > Accountancy

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ICSE & ISC > Class 12 > Accountancy

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ICSE & ISC > Class 12 > Accountancy

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ICSE & ISC > Class 12 > Accountancy

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ICSE & ISC > Class 12 > Accountancy

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ICSE & ISC > Class 12 > Accountancy

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