QUESTION: 26
A and B are partners in the ratio of 3:2. The firm maintains Fluctuating Capital Accounts and the balance of the same as on 31st March 2020 amounted to ₹ 1,60,000 and ₹ 1,40,000 for A and B respectively. Their drawings during the year were ₹ 30,000 each.
As per Partnership Dee, interest on capital @ 10% p.a. on opening capitals had been provided to them.
Calculate the opening capitals of partners given that their profit was ₹ 90,000. Show your workings clearly.
Answer:
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