A and B are partners sharing profit in the ratio of 3 :2 with capitals of 50,000 and 30,000 respectively, Interest on capital is agreed @6 percent p.a. B is to be allowed annual salary of 2,500. During 2017, the of the firm peiror to calculation of interest on capital but after charging B'salary amounted to 12,500. A provision of 5% of the profit is to be maintained in respect of managers Commission. Prepare an amount sharing allocation of profits.
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Answer:
Explanation:
"""After charging interest on capital, a provision is made on profit.
In this case, it is 12,500 - 4800 = 7,700.
This is the allocation of profit and loss account at a provision of 5%.
Now, by adding the balance, interest on capital, salary, and profit and loss appropriation account, we get the total of the partners' capital accounts.
The partners' capital account balance for A and B are 57,389 and 37,226.""
""May 23rd, 2019, Delhi:
Indians are beaming with joy as the election results have been disclosed and the Prime Minister's responsibilities are once again handed to
Narendra Modi.
Despite the claims of tampering with the EVMs the opposition party could not prove any allegations against BJP, and thus, BJP is back in full force.
However, their win is not a surprise to the Indians as exit polls have been predicting these results right from the day after the elections. The extent is admittedly shocking; the ruling party has swept Congress off the scene, leaving, no option in front of their, leader Rahul Gandhi but to resign.
– ABC Reporter, XYZ Newspaper."""
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