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X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2 . On 31st March, 2018 after closing the books of account, their Capital Accounts stood at ₹ 4,80,000 and ₹ 6,00,000 respectively. On 1st May, 2017, X introduced an additional capital of ₹ 1,20,000 and Y withdrew ₹ 60,000 form his capital.On 1st October, 2017, X withdrew ₹ 2,40,000 from his capital and Y introduced ₹ 3,00,000 . Interest on capital is allowed at 6% p.a. Subsequently, it was discovered that interest on capital @ 6% p.a. had been omitted. The profits for the year ended 31st March, 2018 amounted to ₹ 2,40,000 and the partners’ drawings had been: X ₹1,20,000 and Y ₹ 60,000. Compute the interest on capital if the capitals are (a) fixed, and (b) fluctuating. |
| Answer» TE YOUR ANSWER ISY introduced ₹ 3,00,000 . Interest on capital is ALLOWED at 6% p.a. Subsequently, it was DISCOVERED that interest on capital @ 6% p.a. had beenHOPE THIS HELPS ❤️PLEASE MARK AS BRAINLIEST ❤️❤️ | |