Fixed CapitalsQ. 9. Y and Z are partners with capitals of 2,50,000 and 1,50,000 respectivelyon 1st April, 2023. Each partner is entitled to 9% p.a. interest on his capital. Z isentitled to a salary of 60,000 p.a. together with a commission of 6% of Net Profitafter charging his commission. Net profit for the year ended 31st March, 2024 amountto ₹2,12,000. Prepare Partner's Capital Accounts: (i) when capitals are fixed, and (ii)when capitals are fluctuating.[Ans. Divisible Profits 1,04,000; Commission to Z 12,000.M(i) When capitals are fixed:Current A/c balances: YCapital A/c balances : Y74,500 (Cr.); Zgides1,37,500 (Cr.)2,50,000 (Cr.);Z1,50,000 (Cr.)(ii) When capitals are fluctuating:yehand2,87,500 (Cr.)]Capital A/c balances: Y 3,24,500 (Cr.); ZHint: When the profit sharing ratio of the partners is not given in the question, the profitswill be shared equally. Son ofoda oq aldatudiuzib sd to die()0.10 1 Rand C were partners in a firm haying capitals of 2,00,000; 2,00,000

The question is asking to prepare the Partner's Capital Accounts for Y and Z under two scenarios: (i) when capitals are fixed, and (ii) when capitals are fluctuating. The given information includes their initial capitals, the interest rate on their capital, Z's salary and commission, and the net profit for the year.

Step 1: Calculate the interest on capital for each partner. This is done by multiplying their capital by the interest rate. For Y, this would be 2,50,000 * 9/100 = 22,500. For Z, this would be 1,50,000 * 9/100 = 13,500.

Step 2: Subtract the interest on capital and Z's salary from the net profit. This gives us the profit available for distribution. 2,12,000 - 22,500 - 13,500 - 60,000 = 1,16,000.

Step 3: Calculate Z's commission. This is done by multiplying the profit available for distribution by the commission rate. 1,16,000 * 6/100 = 6,960.

Step 4: Subtract Z's commission from the profit available for distribution. This gives us the divisible profits. 1,16,000 - 6,960 = 1,09,040.

Step 5: Since the profit sharing ratio is not given, we assume that the profits are shared equally. Therefore, each partner gets 1,09,040 / 2 = 54,520.

(i) When capitals are fixed: Y's Capital Account balance = initial capital + interest on capital + share of profit = 2,50,000 + 22,500 + 54,520 = 3,27,020 (Cr.) Z's Capital Account balance = initial capital + interest on capital + salary + commission + share of profit = 1,50,000 + 13,500 + 60,000 + 6,960 + 54,520 = 2,84,980 (Cr.)

(ii) When capitals are fluctuating: Y's Capital Account balance = initial capital + interest on capital + share of profit = 2,50,000 + 22,500 + 54,520 = 3,27,020 (Cr.) Z's Capital Account balance = initial capital + interest on capital + salary + commission + share of profit = 1,50,000 + 13,500 + 60,000 + 6,960 + 54,520 = 2,84,980 (Cr.)

Please note that the given answers in the question seem to be incorrect as they do not match with the calculations.