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Arun and Barun are partners in …

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Arun and Barun are partners in a firm sharing profits and losses in the ratio of 3:1. Their capitals at the end of the financial year 2016-17 were ₹ 1,00,000 and ₹ 50,000. Arun had brought additional capital of ₹ 15,000 on July 1, 2016. During the year 2016-17, Arun’s drawing were ₹ 10,000 and the drawing of Barun were ₹ 5,000, which had been duly debited to partner’s capital accounts. Profit before charging interest on capital for the year was ₹ 20,000. The same had also been credited to their capital accounts in their profit-sharing ratio. Calculate interest on capital of the partners @ 8% p.a. for the year ended on 31st March, 2017.

Posted by Riya Jain 1 year ago

CBSE > Class 12 > Accountancy

1 answers

Beant Kaur 1 year ago

Arun: 6000; Barun:3200

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