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Xand Ystartedbusinesson 1stApril, 2018 withcapitalsof Rs. 5.00.000 eachasperthepartnershipDeedbthX and yare togetMonthlysalary of Rs. 10.00.000, interestin capitals@ 10%p.aDrawing s duringthe yearwere X- Rs. 60.000 andY- Rs. 1.00.000, intereston srawingbeingcharged @ 10 %p.a Duringthefrimincurred a lossof Rs. 2.00.000. passjournalenterisfor theaboveand prepare profitand lossappropritaionAccount , thefirm losesitsAccoutnson 31st March. everyYear.

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_010_S01.png" width="80%"/><br/> 1, in the absenceof datesof drawings, intereston has beencalculatedfor theaverage periodof6 monthsthus . <br/>intereston <a href="https://interviewquestions.tuteehub.com/tag/x-746616" style="font-weight:bold;" target="_blank" title="Click to know more about X">X</a>'S Drawings `=Rs. 60,000xx10//100xx6//12=Rs. 3,000,` <br/> <a href="https://interviewquestions.tuteehub.com/tag/interest-13407" style="font-weight:bold;" target="_blank" title="Click to know more about INTEREST">INTEREST</a> on Y'sDrawings =Rs. 1,00,000xx10//100xx6//12=Rs. 5,000.` <br/> 2. <a href="https://interviewquestions.tuteehub.com/tag/salaryto-1193493" style="font-weight:bold;" target="_blank" title="Click to know more about SALARYTO">SALARYTO</a> partnersandintereston capitals are not allowedbeceusethe firmhas incurredloss .</body></html>


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