Anju and Reena are partners of a firm sharing profits and losses in the ratio of 2:1. Their capital, were Rs. 180,000 and Rs. 160,000. The profit during the year were Rs. 50,000. According to partnership deed, both partners are allowed salary, Rs. 2000 per month to each partner. Interest allowed on capital @ 10%p.a. The drawings at the end of the period were Rs. 7,500 for Anju and Rs. 5,500 for Reena. Interest is to be charged @ 5% p.a. on drawings. Prepare partners’ capital accounts, assuming that the capital account are fluctuating.

Anju and Reena are partners of a firm sharing profits and losses in th

1.	Anju and Reena are partners of a firm sharing profits and losses in the ratio of 2:1. Their capital, were Rs. 180,000 and Rs. 160,000. The profit during the year were Rs. 50,000. According to partnership deed, both partners are allowed salary, Rs. 2000 per month to each partner. Interest allowed on capital @ 10%p.a. The drawings at the end of the period were Rs. 7,500 for Anju and Rs. 5,500 for Reena. Interest is to be charged @ 5% p.a. on drawings. Prepare partners’ capital accounts, assuming that the capital account are fluctuating.
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