lustration 23. Ramesh and Naresh are partners in a firm. Their capitals as were 2,50,000 and 1,50,000 respectively. They share profits equally. On ecided that their capitals should be 2,00,000 each. The necessary adjustm were made by introducing or withdrawing cash. Interest on capital is a ompute interest on capital for both the partners for the year ended 31st M
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
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