Accountancy, asked by eshane9, 1 month ago

A and B are partners with a profit sharing ratio of 2:1 and capitals of rs 300000 and Rs 200000 respectively. They are allowed 6% p.a. interest on their capitals and are charged10% p.a. interest on their drawings . their drawings during the year were Rs 60000 and 40000. B’s share of net profit as per profit and loss appropriation account amounted to Rs 40000. Net profit of the firm before any appropriation was:

a. 122000
b. 113000
c. 117000
d. 140000​

Answers

Answered by sc92525
2

Answer:

140000 Ans

Explanation:

please Mark as brilliant answer

Answered by jagveeryadav2285
3

Explanation:

And Loss Account

Particulars Amount Particulars Amount

To Manager;s

commission

(15000*5/100) 750 By profit before B's Salary

(12500+2500) 15000

To Net profit T/f to

P/L Appropriation

Account 14250

Total 15000 Total 15000

Profit And Loss Appropriation Account

Particulars Amount Particulars Amount

To Interest on capital

A = 50000*6% = 3000

B=30000*6% = 1800 4800 By net profit 14250

B's Salary 2500

To profit T/f to

A's Capital A/c = 4170

B's Capital A/c = 2780 6950

Total 14250 Total 14250

Partners capital account

Particulars A B Particulars A B

By bal b/d 50000 30000

By Int on capital 3000 1800

salary 2500

To bal c/d 57170 37080 By P/L Appr A/c 4170 2780

Total 57170 37080 Total 57170 37080

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