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10. Jenuli, Senul and Venuli, with capital balances as at 1 April 2017 of Rs 300.000, Rs 200,000 and Rs.200,000, are in partnership, sharing profits
10. Jenuli, Senul and Venuli, with capital balances as at 1 April 2017 of Rs 300.000, Rs 200,000 and Rs.200,000, are in partnership, sharing profits and losses in the ratio 221 respectively, after allowing Venuli a salary of Rs.1,500 per month, and all partners' interest al 8% per annum on their opening capital account balances. Profit for the year ended 31 March 2016, has been calculated at Rs.68,000. Identify the partnership profit each partner would be entitled to in respect of the year ended 31 March 2018. a Jenuli: Rs.26.400; Senuli: Rs. 18,400; Venuli: Rs.35,200 b. Jenuli: Rs 21,600; Senuli: Rs. 13.600; Venuli: Rs.32,800 c. Jenuli: Rs 21,600, Senuli: Rs. 13,600; Venuli: Rs.68,800 d. Jenuli: Rs. 12,000; Senuli: Rs. 12,000: Venuli: Rs.6,000 (02 Marks) (Total 20 Marks) 10. Jenuli, Senul and Venuli, with capital balances as at 1 April 2017 of Rs 300.000, Rs 200,000 and Rs.200,000, are in partnership, sharing profits and losses in the ratio 221 respectively, after allowing Venuli a salary of Rs.1,500 per month, and all partners' interest al 8% per annum on their opening capital account balances. Profit for the year ended 31 March 2016, has been calculated at Rs.68,000. Identify the partnership profit each partner would be entitled to in respect of the year ended 31 March 2018. a Jenuli: Rs.26.400; Senuli: Rs. 18,400; Venuli: Rs.35,200 b. Jenuli: Rs 21,600; Senuli: Rs. 13.600; Venuli: Rs.32,800 c. Jenuli: Rs 21,600, Senuli: Rs. 13,600; Venuli: Rs.68,800 d. Jenuli: Rs. 12,000; Senuli: Rs. 12,000: Venuli: Rs.6,000 (02 Marks) (Total 20 Marks)
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