Question

A and B are partners. A Capital is ₹100000 and B Capital is 60000. Interest on Capital is payable @6% p.a B is to get salary of ₹3000 par month. Net Profit for the year is ₹80000. Prepare profit and loss Appropriation Account.​

Answer 1

Answer:

Profit and loss

appropriation A/C

Particulars                           Amt(Rs)           Particulars                        Amt(Rs)

To Intrest on capital:                                    To Profit                               80000

A's Capital A/c:   6000

B's Capital A/c:   3600        9600

To Salary(B's capital A/c)   36000

To Profit transferred to:

A's Capital A/c:  17200  

B's Capital A/c   17200        34400

                                            80000                                                      80000