Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Accounting and Auditing Basic accounting principles Partnership Accounts
Varsha and Monica are partners sharing profit and losses in the ratio of 3 : 2 having the capital of Rs. 80,000 and Rs. 50,000 respectively. They are entitled to 9% p.a. interest on capital before distributing the profit. During the year firm earned Rs. 7,800 before allowing interest on capital. Profit apportioned among Varsha and Monica is :
1
Rs. 4,680 and Rs. 3,120
2
Rs. 5,000 and Rs. 2,800
3
Rs. 4,800 and Rs. 3,000
4
Rs. 4,680 and Rs. 2,800