Question

3. A and B are partners in a furm sharing profits and losses in the ratio of 32. The balances in
their caputal and current accounts as on 1" April 2018 were as under
Particulars
AR
BRA
Capital Accounts
300.000
2,00.000
Current Accounts (c)
1,00.000
80 000
The partnership deed provides that A is to be paid salary Rs 500 per month whereas B is to
get a commission of Rs 40,000 for the year laterest on capital is to be credited at 6% pa The
drawings of A and B for the year were Rs. 30,000 and Rs 10,000 respectively. The net profit for
the firm before making these adjustments was Rs. 2,49,000. Interest on A's drawing was Rs. 750
and B s drawng was Rs 250. Prepare Profit and Loss Appropriation Account Partners Capital
Account and Current Account
6
24 X and Y are partners in a firm sharing profits and losses in the ratio of 32 respectively solution​

Answer 1

Answer:

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