Partnership Accounts : Fundamentals of Partnership

Interest is not allowed because there is no agreement

In the absence of a partnership deed, no interest is allowed on partners' capital. The claim has no basis unless the agreement provides for it.

In the ratio 6:4

When profit is less than total interest due on capital, divisible profit becomes nil and the available profit is distributed in the ratio of interest amounts. Here the ratio is 6,000:4,000 = 3:2, which is equivalent to 6:4.

₹0

In the absence of a partnership deed, no interest is charged on drawings. Therefore, the amount is zero.

Admission requires consent of all existing partners

When no agreement exists, a new partner cannot be admitted without the consent of all existing partners.