Kalyani TO FINANCIAL ACCOUNTING$-$II $($HONOURS & GENERAL$)$ They appointed Anita as their manager on $1$st July, $2019$ at a salary of $9,600$ p$.$a$.$ plus a bonus of $5\%$ of the profits after charging such bonus and interest on capital. Anita had to deposit on $1$st July, $201980,000$ as security carrying interest at $12\%$ p$.$a$.$ In June, $2022$ it was settled that Anita should be treated as a partner from the commencement of the $14$ A WELCOME APPROACH and Ranu commenced business on $1$st July, $2019$ as partners with capitals of $1,80,000$ and $1\mathrm{.}20,000$ respectively. The capitals remain fixed and carry interest @ $10\%$ p$.$a$.$ Profits and losses are to be shared in proportion to their capitals. business. It was agreed that she would be entitled to one$-$fifth of the profits and her security deposit would be treated as her capital carrying interest @ $10\%$ p$.$a$.$ instead of the $12\%$ she had received. It was further agreed that this new arrangement should not result in Anita's share for any of these years being less than she