Sarthaks Test
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Bat and Ball are partners sharing the profits in the ratio of 2: 3 with capitals of Rs.1, 20,000 and Rs.60,000 respectively. On 1st October, 2015, Bat and Ball granted loans of Rs.2, 40,000 and Rs.1, 20,000 respectively the firm. The losses for the year ended 31st March, 2016 before any interest amounted to Rs.9,000. Show distribution of profit/loss.

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Working notes:

1. Interest on partner's loan

2. Distribution of loss to the partners

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