62. Simrat and Bir are partners in a firm sharing profits and losses i

1.	62. Simrat and Bir are partners in a firm sharing profits and losses in the ratio of 3:2.On 31st March, 2020 hclosing the books of account, their Capital Accounts stood at * 4,80,000 and 6,00,000 respectively (1st May, 2019, Simrat introduced an additional capital of 1,20,000 and Bir withdrew * 60,000 fromcapital. On 1st October, 2019, Simrat withdrew * 2,40,000 from her capital and Bir introduced 73,000Interest on capital is allowed at 6% p.a. Subsequently, it was noticed that interest on capital @ 6% pahad been: Simrat-1,20,000 and Bir-*60,000.Compute the interest on capital if the capitals are (a) fixed, and (b) fluctuating.
Answer» Answer: There 2 PHOTOS check it out. a) is FIXED capital and B) is fluctuating capital

62. Simrat and Bir are partners in a firm sharing profits and losses in the ratio of 3:2.On 31st March, 2020 hclosing the books of account, their Capital Accounts stood at * 4,80,000 and 6,00,000 respectively (1st May, 2019, Simrat introduced an additional capital of 1,20,000 and Bir withdrew * 60,000 fromcapital. On 1st October, 2019, Simrat withdrew * 2,40,000 from her capital and Bir introduced 73,000Interest on capital is allowed at 6% p.a. Subsequently, it was noticed that interest on capital @ 6% pahad been: Simrat-1,20,000 and Bir-*60,000.Compute the interest on capital if the capitals are (a) fixed, and (b) fluctuating.

Answer»

Answer:

There 2 PHOTOS check it out. a) is FIXED capital

and B) is fluctuating capital

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