Home
Class 12
ACCOUNTS
Rahul, Rohit and Karan started partnersh...

Rahul, Rohit and Karan started partnership business on April 1, 2016 with capitals of Rs. 20,00,000, Rs. 18,00,000 and Rs. 16,00,000, respectively.
The profit for the year ended March 2017 amounted to Rs.1,35,000 and the partner’s drawings had been Rahul Rs. 50,000, Rohit Rs. 50,000 and Karan Rs. 40,000. The profits are distributed among partner’s in the ratio of 3:2:1. Calculate the interest on capital @ 5% p.a.

Text Solution

Verified by Experts

The correct Answer is:
Rahul, Rs. 1,00,000, Rohit, Rs. 90,000, Karan Rs. 80,000
Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING FOR PARTNERSHIP : BASIC CONCEPTS

    NCERT|Exercise Long Answer Questions|5 Videos

  • ACCOUNTING FOR NOT-FOT PROFIT ORGANISATION

    NCERT|Exercise All Questions|73 Videos

  • ACCOUNTING FOR SHARE CAPITAL

    NCERT|Exercise Test your Understanding - I|11 Videos
NCERT-ACCOUNTING FOR PARTNERSHIP : BASIC CONCEPTS-Numerical Questions
  1. Ramesh and Suresh were partners in a firm sharing profits in the ratio...

    Text Solution

    |

  2. Sukesh and Vanita were partners in a firm. Their partnership agreement...

    Text Solution

    |

  3. Rahul, Rohit and Karan started partnership business on April 1, 2016 w...

    Text Solution

    |

  4. Sunflower and Pink Rose started partnership business on April 01, 2016...

    Text Solution

    |

  5. On March 31, 2017 after the close of accounts, the capitals of Mounta...

    Text Solution

    |

  6. Following is the extract of the Balance Sheet of, Neelkant and Mahdev ...

    Text Solution

    |

  7. Rishi is a partner in a firm. He withdrew the following amounts during...

    Text Solution

    |

  8. The capital accounts of Moli and Golu showed balances of Rs.40,000 and...

    Text Solution

    |

  9. Rakesh and Roshan are partners, sharing profits in the ratio of 3:2 wi...

    Text Solution

    |

  10. Himanshu withdrews Rs. 2,500 at the end Month of each month. The Part...

    Text Solution

    |

  11. Bharam is a partner in a firm. He withdraws Rs. 3,000 at the starting ...

    Text Solution

    |

  12. Raj and Neeraj are partners in a firm. Their capitals as on April 01, ...

    Text Solution

    |

  13. Amit and Bhola are partners in a firm. They share profits in the ratio...

    Text Solution

    |

  14. Harish is a partner in a firm. He withdrew the following amounts durin...

    Text Solution

    |

  15. Menon and Thomas are partners in a firm. They share profits equally. T...

    Text Solution

    |

  16. On March 31, 2017, after the close of books of accounts, the capital ...

    Text Solution

    |

  17. Amit, Sumit and Samiksha are in partnership sharing profits in the rat...

    Text Solution

    |

  18. Pinki, Deepati and Kaku are partner’s sharing profits in the ratio of ...

    Text Solution

    |

  19. Abhay, Siddharth and Kusum are partners in a firm, sharing profits in ...

    Text Solution

    |

  20. Radha, Mary and Fatima are partners sharing profits in the ratio of 5:...

    Text Solution

    |