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12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm - Fundamentals

  • question_answer
    X and Y are partners sharing profits in 3 : 2 ratio. Their capitals were Rs.50,000 and Rs.40,000. Interest on capital (charge) @10% p.a. Loss during the year was Rs.6,000. What profit or loss is to be shared by the partners?

    A) Loss to X Rs.3,600; Y Rs.2,400

    B) Loss to X Rs.9,000; Y Rs.6,000

    C) Loss to X Rs.3,000; Y Rs.3,000 

    D) Loss to X Rs.2,000; Y Rs.1,000

    Correct Answer: B

    Solution :

    Loss to X Rs.9,000; Y Rs.6,000


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