question_answer

X and Y are partners in a firm and sharing the profit & loss in the ratio of 2:3 with a capital of Rs.1,00,000 and Rs.80,000 respectively. Calculate the amount of profit or loss to be distributed among the partners if partnership deed provides interest on capital (charge) @ 10% p.a. and loss for the year is Rs.52,000 Loss distributed among the partners:

A) Loss: X = 20,800 Y = 31,200

B) Loss: X = 28,000 Y = 42,000

C) Loss: X = 42,000 Y = 28,000

D) Loss: X = 31,200 Y = 20,800