accounts

X Y &Z are partners in a firm. at the time of division of profit for the year there was dispute between the partners.profits before interest on partners capital was Rs 6000 and Y determined interest @ 24% p.a. on his loan of Rs 80000. there was no agreement on this point. calculate the amount payable to X Y&Z

 

A. rs 2000 to each partner

 

b. loss of rs 4400 for X&Z & Y will take home rs 14800

 

c. rs 400 for X RS  5200 for Y AND RS 400 for Z

 

d. rs 2400 to each partner.

 

can anyone answer this question?

Replies (5)

I think option C is right one , b coz in absence of any agreement interest at 6 % is provided to the partners loan, so  Y should get Rs. 4800 of interest on his loan and the rest 1200 should be divided equally between them.

option c is the correct answer.

because if nothing mentioned in partnership deed the nterest has to be taken @ 6% p.a

accordingly calcuation has to be done.

Ya,option C is right one..

As said by Ashish,interest rate on loan by partner(s) in absence of any agreement os 6 % PA.

So profit left after deducting the amount of interest of 1200,which is divisible among all 3 equally

X = 400

Y = 4800 + 400 = 5200

Z = 400

 c is correct option

I am also agreed with the above answers

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