Question

2. A present the following Profit and Loss Appropriation Account to his partner
B for the year ended 31st March, 2017
Particulars Amount Particulars Amount
To Salary:
A 10,000
B 8,000
___________
To Interest on Capital:
A 3,000
B 2,000
________
To Interest on A’s
Loan@12%
To Profit transfer to
capital : A--3/4
12,000
B --- 1 / 4
4,000
18,000
5,000
1200
16,000
By Profit & Loss A/c 40,200
40,200 40,200
B feels that he is not fairly treated by A. There is no partnership deed.

Answer 1

Answer:

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