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Reena and Raman are partners with …

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Reena and Raman are partners with capitals of Rs. 3,00,000 and Rs. 1,00,000 respectively. The profit (as per Profit and Loss Account) for the year ended March 31, 2017 was Rs. 1,20,000. Interest on capital is to be allowed atp.a. Raman was entitled to a salary of Rs. 30,000 p.a. The drawings of partners were Rs. 30,000 and 20,000. The interest on drawings to be charged to Reena was Rs. 1,000 and to Raman, Rs. 500.
Assuming that Reena and Raman are equal partners. State their share of profit after necessary appropriations

Posted by Tanishq Mittal 3 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Kunjilal Paikara 3 years, 3 months ago

answer please

Sneha Sharma 3 years, 4 months ago

Reena and Raman are partners with capitals of Rs.300000 and Rs.100000 respectively. The profit (as per profit and loss Account) for the year ended March 31, 2017 was Rs. 120000 . Interest on capital is to be allowed at 6% p.a Raman was entitled to a salary of Rs.30000p.a. The drawings of partners were Rs.30000 and 20000. The interest on drawings to be charged to reena was Rs.1000 and to Raman, Rs.500. Assuming that Reena and Raman are equal partners. State their share of profit after necessary appropriations.

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