Explanation:
To find the amount to be transferred to the general reserve and the net divisible profit of the firm, we first need to calculate the interest on capital for X and Y.
Given:
- Net profit of the firm = 2,00,000
- X and Y share profits and losses in the ratio of 3:2
Let's calculate the share of profits for X and Y:
X's share = (3 / (3 + 2)) * 2,00,000 = 1,20,000
Y's share = (2 / (3 + 2)) * 2,00,000 = 80,000
Now, let's calculate the interest on capital:
Total interest on capital = 30,000 + 5,000 = 35,000
Since 10% of the divisible profit is transferred to the general reserve, we need to calculate this:
Amount transferred to general reserve = 0.10 * (2,00,000 - 35,000) = 0.10 * 1,65,000 = 16,500
Therefore, the amount to be transferred to the general reserve is 16,500, and the net divisible profit of the firm after transferring to the general reserve is 1,65,000.
Answer:
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