Rani and Suman are partners with capital of 80,000 and Rs. 60,000. During the year 2006-07, Rani withdrew Rs. 10,000 from her capital and Suman Rs. 15,000 .Profits before charging interest on capital was Rs. 50,000.Rani and Suman shared profits/losses in the ratio 3;2. Calculate the amount of intereston their capitals @ 12 % p.a. for the year ended march 31,2007.
closing capital
rani sunam
80000 60000
+ drawing. 10000 15000
- pft.
(50000 in
ratio 3:2) 30000 20000
net balance -- 60000 55000
we Have opening capital.....
rani int.on capital --
60000*12/100 ..... 7200
sunam int. on capital
55000* 12/100......6600
rani sunam
80000 60000
+ drawing. 10000 15000
- pft.
(50000 in
ratio 3:2) 30000 20000
net balance -- 60000 55000
we Have opening capital.....
rani int.on capital --
60000*12/100 ..... 7200
sunam int. on capital
55000* 12/100......6600