Anubha and Kajal are partners of a firm sharing profits and losses in the ratio of 2 : 1. Their capital, were ₹ 90,000 and ₹ 60,000

Anubha and Kajal are partners of a firm sharing profits and losses in the ratio of 2 : 1. Their capital, were ₹ 90,000 and ₹ 60,000. The profit during the year were ₹ 45,000. According to partnership deed, both partners are allowed salary, ₹ 700 per month to Anubha and ₹ 500 per month to Kajal. Interest allowed on capital @ 5% p.a. The drawings during the year were ₹ 8,500 for Anubha and ₹ 6,500 for Kajal. Interest is to be charged @ 5% p.a. on drawings. Prepare partners capital accounts, assuming that the capital account are fluctuating.

(Ans: Anubha’s Capital Account Balance ₹ 1,09,860, Kajal’s Capital Account Balance ₹ 70,140)