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A&B are partners in the ratio …

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A&B are partners in the ratio of 3 : 2. The firm maintains fluctuating capital accounts and the balance of the same as on 31-03-2020 amounted to Rs. 1,60,000 and Rs. 1,40,000 for A and B respectively. Their drawings during the year were Rs. 30,000 each.As per partnership deed interest on capital @10% p.a. on opening capitals had been provided to them. Calculate opening capitals of partners given that their profits were Rs. 90,000. Show your workings clearly.

Posted by Muskan Taneja 3 years, 10 months ago

CBSE > Class 12 > Accountancy

5 answers

Shreyansh Jain 3 years, 10 months ago

A's int. on capital =13600 B's int. on capital =13400

Shreyansh Jain 3 years, 10 months ago

Just do 10% of 136000 and 134000

Muskan Taneja 3 years, 10 months ago

Thanks but treatment of interest on capital is missing...

Shreyansh Jain 3 years, 10 months ago

Its 54000 not 50000

Shreyansh Jain 3 years, 10 months ago

Opening capital of A=1,36,000(160,000+30,000-50000) Opening capital of B=134,000(1,40,000+30,000-36,000)

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