Interest On Capital

X and Y are partners in the ratio of 3 : 2. Their capitals are Rs.2,00,000 and Rs.1,00,000 respectively. Interest on capitals is allowed @8% p.a. Firm earned a profit of Rs.60,000 for the year ended 31st March 2019. Interest on Capital will be :

X and Y are partners in the ratio of 3 : 2. Their capitals are Rs.2,00,000 and Rs.1,00,000 respectively. Interest on capitals is allowed @8% p.a. Firm incurred a loss of Rs.60,000 for the year ended 31st March 2019. Interest on Capital will be :

X and Y are partners in the ratio of 3 : 2. Their capitals are Rs.2,00,000 and Rs.1,00,000 respectively. Interest on capitals is allowed @8% p.a. Firm earned a profit of Rs.15,000 for the year ended 31st March 2019. As per partnership agreement, interest on capital is treated a charge on profits. Interest on Capital will be :

X , Y and Z commenced business on 1st April , 2016 with capitals of ₹ 5,00,000 , ₹ 4,00,000 and ₹ 3,00,000 respectively . Profits and losses were shared in the ratio of 4 : 3 : 3 . Interest on Capitals was paid at 5 % p.a. During 2016-17 and 2017-18 they earned profit of ₹ 2,00,000 and ₹ 2,50,000 (before allowing interest on capital) . Drawings of each partner were ₹ 50,000 per year . On 31st March , 2018 the firm was dissolved . Creditors on that date were ₹ 1,20,000 . The assets realised ₹ 13,00,000 net . Give necessary accounts to close the books of the firm .

X and Y are partners in a firm sharing profit and losses in the ratio of 3 : 2 with capitals of RS.1,20,000 and RS.80,000 respectively. Interest on capital is allowed @ 10%. They admit Z into the partnership with effect from 1st January, 2019 on the following terms: (i) Z is to bring in RS.10,000 for his share of cash. (ii) Z is to contribute RS.1,25,000 as his share of capital. (iii) Partners' capital will carry interest @ 12% p.a. (iv) New profit-sharing ratio of X, Y and Z will be 9 : 6 : 4. (v) X will be entitled to 5% commission on the net profit. (vi) The profit for the year ended 31st March, 2019 before providing for X's commission and interest on partners' capital amounted to RS.80,000. Prepare profit and Loss Appropriation Account for the year ended 31st March, 2019.