| Ram and Mohan are partners. |
| Loan given by the Ram (partner) to the firm on 1st October 2020..........................50,000 |
| Loan given by the firm to Mohan (a partner) on 1st December 2020......................20,000 |
| Partnership deed provides interest on loan by Ram @8% p.a. but silent on interest on Loan to Mohan. |
| Profit for the year ended 31st March 2021 was Rs. 10,000. |
| Profit/loss shared by the partners: |
A) Profit to Ram 5,000 and Mohan Rs.5,000
B) Profit to Ram 4,250 and Mohan Rs.4,250
C) Profit to Ram 4,100 and Mohan Rs.4,100
D) Profit to Ram 4,000 and Mohan Rs.4,000
Correct Answer: D
Solution :
Profit to Ram 4,000 and Mohan Rs.4,000
You need to login to perform this action.
You will be redirected in
3 sec
