Question

0. Simmi and Sonu are partners in a firm, sharing profits and losses in the ratio
of 3:1. The profit and loss account of the firm for the year ending
March 31, 2013 shows a net profit of Rs. 1,50,000. Prepare the Profit and Loss
Appropriation Account by taking into consideration the following information
(1) Partners capital on April 1, 2012;
Simmi, Rs. 30,000; Sonu, Rs. 60,000;​

Answer 1

Answer:

Profit & Loss Appropriation A/c, Partners Capital A/c & Partners Current A/c

Explanation:

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