Question

A and B entered into partnership contributing 20000 and 10000 respectively as capital on which the agree to allow interest 12% per annum their profit sharing ratio is to 2 ratio 3 and the business profit for the first year is 3000 before allowing interest on capital show the profit and loss appropriation account showing distribution of profits

Answer 1

Explanation:

since interest on capital is more than profit earned , interest will not be given to partners and the profit will be distributed in the ratio of the interest of capital of partners

Answer 2

Answer:

PDF ANSWER IS HERE

Explanation:

11cfc133f35bfa8da287bc074a65c01f.pdf