Question

.  A and B started a partnership business on 1st July 2017, A introduced Rs. 500000 in cash and B brought goods worth Rs. 400000, as capital for the year ended on 31st march, 2018. Firm earned a profit of Rs. 350000 before considering for following.
1.       Interest on capital 10% per annum.
2.        Salary to B Rs. 24000 per annum.
3.        A withdraw Rs. 24000 during the period equally at the beginning of each month while B withdraw Rs. 36000 equally end of each quarter,
4.        The rate of interest on drawing is 12% p.a. 5.  It is decided that B   is entitled to get   5% commission on net profit.
Prepare the capital account and P/L appropriation account.​

Answer 1

Answer:

Here's ur answer

Explanation:

*Point to be noted*

I have done working not on p/l appropriation itself but by exam point of view u need to do working notes separate