A and B are partners sharing profits in the ratio of 3 : 2 with capitals of ` 50,000 and ` 30,000 respectively. Interest on capital is agreed @ 6% p.a. B is to be allowed an annual salary of ` 2,500. A provision of 5% of net profit is to be made in respect of Manager’s Commission and rent of ` 24,000 is to be accounted being payable to A. Profit for the year before manager’s commission and rent to A was ` 39,000A and B are partners sharing profits in the ratio of 3 : 2 with capitals of ` 50,000 and ` 30,000 respectively. Interest on capital is agreed @ 6% p.a. B is to be allowed an annual salary of ` 2,500. A provision of 5% of net profit is to be made in respect of Manager’s Commission and rent of ` 24,000 is to be accounted being payable to A. Profit for the year before manager’s commission and rent to A was ` 39,000. ACCOUNTS CLASS12
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Answer:*To partner capital*
A=4170
B=2780
* To balance c/d*
A=57170
B=37080
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