122) Z a partner withdraws the following sums during the year ended 31St March,2011 On 1st May,2010 Rs.1,000 On 1st August,2010 Rs.3,000 On 1st January,2011 Rs.2,000 On 1st March,2011 Rs.1,000 Calculate interest on his drawing @ 6% P.a
123) On 1st April,2010 A's capital account showed a balance of Rs.1,75,000 while B's capital account showed a balnce of Rs.35,000.In 2010-2011 the firm earned a proft of Rs.52,500 before adjustment for salary to B amounting to Rs.10,500 for the year and interest on capital @ 7% P.a.on final distribution of profit in profit sharing ratio of Rs.3:2 A an B will be get share of profit_____
133) A and B start business on 1st January,2009,with capitals of Rs.30,000 and Rs.20,000.According to the partnership deed,B is entitled to a salary of Rs.500 per month and interest is to be allowed on capitals at 6% p.a.profit sharing ratio is 5:3.during the year the firm earned a profit,before charging salary to B and interest on capital amounting to Rs.25,000.During the year A withdrew Rs.8,000 and B withdrew Rs.10,000 for domestic purpose.Closing balance of partners capital account for A= ? & B = ?
134) P & Q started business with capital of Rs.70,000 and Rs.42,000 on 1st january,2012.Q is entitled to a salary of Rs.560 P.m.Interest is allowed on capitals and is charged on drawings at 6% p.a.profits are to be in ratio of 3:2.During the middle of the year.P withdrew Rs.11,200 and Q withdrew Rs.14,000.The profits for the year before appropriation came to Rs.42,000.Calculate share of profit of P & Q.
137) A,B and C had capitals of Rs.50,000,Rs.40,000 and Rs.30,000 respectively for carrying on business in partnership.The firm's reported profit for the year was Rs.80,000.Find out the share of profit of each partner after providing interest on an advance by A of Rs.20.000