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160,000 on 1 April 2018. Y …

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160,000 on 1 April 2018. Y is entitled to a salary of Rs. 800 per month. Interest is allowed on capitals and is charged on drawings at 6% per annum. Profits are to be distributed equally after the above noted adjustments. During the year X withdrew Rs. 16,000 and Y withdrew Rs. 20,000. The profit for the year before allowing for the terms of the partnership deed came to Rs. 60,000 Assuming the capitals to be fixed, prepare the capital and current accounts

Posted by Shalini Pandey 1 week ago

CBSE > Class 12 > Accountancy

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