Question

A and B are partners
with capitals of Rs.
1,00,000 and Rs.
80,000 respectively. On
1st April, 2019, the
trading profit of the firm
for the year before
appropriation as per
partnership deed was
Rs. 67,500
AS per partnership
deed they were entitled
to:
i.
Interest on
capital @ 9%
p.a.
A is to get salary
@ Rs. 1,000
p.m, whereas B
is to get
commission Rs.
10,000.
3. drawing of a and b were ₹ 6,000 and ₹ 5000 respectively. prepare profit and loss appropriation account.​

Answer 1

Answer:

profit and loss appropriation a/c

particular. amt. particular. amt.

ins on P&l. a/c. 67500

capital

A. 9000

B. 7200

salary to A 12000

commission

to B. 10000

divisible profit

A. 14650

B. 14650

total. 67500. total. 67500

Explanation:

as profit sharing ratio is not given we assume it equal