Question

19. Pramod and Pavan commenced their business with capital investments of Rs 80000 and Rs 60000
Respectively on 1st April 2019. They agreed to share profits in the ratio of 3.2. For the year ending
31st March 2020, they eamed a profit of Rs 45000 before allowing
a. Interest on capital at 6%p.a.
b. Annual salary to Pavan Rs 5000
c. Interest on drawings: Pramod Rs 1500 and Pavan Rs 1000
d. Partner's drawings: Pramod Rs 15000 and Pavan Rs 10000
You are required to prepare profit and loss Appropriation account of the firm.
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