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X and Yarepartnerssharingprofits and Lossesin theratio7:3theircapitalAccountsAs at1stApril2018 Stood AtX -Rs.5.00.000 ,Y - Rs. 4,00,000 Pertners areallowedintereston capitals@5%p.aDrawing of X and YDuringendedallowed 31 stMarch,2019wereRs. 72,000andRs, 50.000Respectively.Profit for theyearbeforeallowinginterest on capital andSalary to Y @ Rs. 5,000Per month amountedTo Rs. 8,00,000. 10 %of thedivisbleprofitisto be setasideas General Reserve . |
Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XII_V01_C02_S01_032_S01.png" width="80%"/><br/><a href="https://interviewquestions.tuteehub.com/tag/amounttransferred-2415118" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNTTRANSFERRED">AMOUNTTRANSFERRED</a> to <a href="https://interviewquestions.tuteehub.com/tag/generalreserve-2093337" style="font-weight:bold;" target="_blank" title="Click to know more about GENERALRESERVE">GENERALRESERVE</a> =<a href="https://interviewquestions.tuteehub.com/tag/10-261113" style="font-weight:bold;" target="_blank" title="Click to know more about 10">10</a>%ofDivisibleprofit<br/>=10%Of6,95,000i.e., <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 8,00,000 -Rs. 25,000 -Rs.20,000-Rs. 60.000)<br/> =Rs. 69,500.,</body></html> | |