Question : X and Y are Partners in a Ratio of 3:2. Their capitals are Rs. 2,00,000 and Rs. 1,00,000, respectively. Interest on capital is allowed @8% p.a. The firm earned a profit of Rs. 60,000 for the year ended March 31st, 2019. Interest on capital will be

Option 1: X Rs. 16,000, Y Rs. 8,000

Option 2: X Rs. 8,000, Y Rs. 4,000

Option 3: X Rs. 14,400, Y Rs. 9,600

Option 4: No interest will be allowed.

Question : X and Y are Partners in a Ratio of 3:2. Their capitals are Rs. 2,00,000 and Rs. 1,00,000, respectively. Interest on capital is allowed @8% p.a. The firm earned a profit of Rs. 60,000 for the year ended March 31st, 2019. Interest on capital will be

Question : A and B are equal partners with capitals of Rs.2,00,000 and Rs.1,00,000 respectively. As per deed, they are allowed an interest @ 8% p.a. on capital. During the year, the firm earned a profit of Rs.12,000. Interest on capital allowed to A and B will be:

Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit after charging his

Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit after charging his

Question : A and T are equal partners with fixed Capitals of Rs. 2,00,000 and Rs. 1,00,000, respectively. After closing the accounts for the year ending 31st March 2019. It was discovered that interest on capital 8% p.a. was omitted to Be provided. In the adjustment Entry: