Question

46. (Profit & Loss Appropriation A/c/Partners Capital A/c) A and B are partners
sharing profits in the ratio of 3
2 with capital of 25,000 and 315,000 respectively.
Interest on Capital is allowed @ 6% p.a. B is allowed salary of 1250 per annum. Dering
2018, the profits of the firm prior to calculation of interest on capital but after charging B's
Salary amounted to 36,250. A provision of 5% of the profits is to be maintained in respect of
managers' commission. Prepare Profit & Loss Appropriation Account and partners Capital
Ans. Profit: A * 2,085; B 1,390 : Capital A 3 28,585; B3 18,540; Commission 375)​

Answer 1

Answer:

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