12th Class
Accountancy
Fundamentals of Partnership
Question Bank
MCQs - Accounting for Partnership Firm - Fundamentals
question_answer
A and B started a new partnership business on 1st October 2020. They have decided to share the profits & losses in the ratio of 1:2. They have contributed capital of Rs.1,00,000 and Rs.1,60,000 respectively. Calculate the amount of profit or loss to be distributed among the partner, if partnership deed provides interest on capital @ 10% p.a. and profit for the year ending 31st March 2021 is Rs.52,000. Profit distributed between the partners: