Question

9. A and B are partners sharing profits in the ratio of 3 2 win
Rs. 5,00,000 and Rs 3.00.000 respe
00.000 and Rs.3.00.000 respectively. Interest on Capital is og
@ 6% pa. B is to be allowed an annual salary of Rs 60,000. During the
year 2018-19. the profits prior to the calculation of interest on Cape
after charging B's salary amounted to Rs. 1.80.000. A provision of 5. OT
the profit is to be made in respect of commission to the Manager.
Prepare Profit and Loss Appropriation account showing the distribution of
profit and the partner's capital accounts for the year ending March 31,
2019
(8 Marks)​

Answer 1

Answer:

Taken back B's salary and deducted manager's commission and appropriate the profit