X and Y are partners sharing profits and losses in the ratio of 3 : 2 having fixed capitals of ₹1,50,000 and ₹2,00,000 respectively. The partnership deed provides for interest on capital @ 8% p.a. The Net Profit of the firm during 2019-20 was ₹21,000. In what ratio the appropriation of profit will be made?

🎲 Try a Random Question  |  Total Questions in Quiz: 155  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
Accounting For Partnership Firms (MCQs) — practice the complete quiz, review flashcards, or try a random question.


X and Y are partners sharing profits and losses in the ratio of 3 : 2 having fixed capitals of ₹1,50,000 and ₹2,00,000 respectively. The partnership deed provides for interest on capital @ 8% p.a. The Net Profit of the firm during 2019-20 was ₹21,000. In what ratio the appropriation of profit will be made?






ADVERTISEMENT