SELECT * FROM question_mgmt as q WHERE id=5488 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=11 AND chapterId=135 and ex_no='2' AND status=1 ORDER BY CAST(question_no AS UNSIGNED)

Question:

Reena and Raman are partners with capitals of Rs. 3,00,000 and Rs. 1,00,000 respectively. The profit for the year ended March 31, 2017 was Rs. 1,80,000, before paying rent for her personal building to be used as godown for firm to Reena payable at Rs. 5000 per month. Interest on capital is to be allowed at 6% p.a. Raman was entitled to a salary of Rs. 30,000 p.a. The drawings of partners were Rs. 30,000 and 20,000. The interest on drawings to be charged to Reena was Rs. 1,000 and to Raman, Rs. 500.

Assuming that Reena and Raman are equal partners. State their share of profit after necessary appropriations.

Answer:

Profit : Reena, Rs. 33,750
Raman, Rs. 33,750


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