Kanika and Gautam are partners doing a dry cleaning business in Lucknow sharing profits in the ratio...........

Kanika and Gautam are partners doing a dry cleaning business in Lucknow, sharing profits in the ratio 2 : 1 with capitals Rs 5,00,000 andRs? 4,00,000 respectively. Kanika withdrew the following amounts during the year to pay the hostel expenses of her son: (3 MARKS)

1st April	Rs 10,000
1st June	Rs 9,000
1st November	Rs 14,000
1st December	Rs 5,000

Gautam withdrew Rs 15,000 on the first day of April, July, October and January to pay rent for the accommodation of his family. He also paid Rs 20,000 per month as rent for the office of partnership which was in a nearby shopping complex.

Calculate interest on drawings @ 6% p.a.

Download Model Answer

छोटे Courses बड़े Results

Master

Prepare through Micro-courses