A and B were partners sharing profits and losses in the ratio of 5.3. C was their manager
who was receiving a salary of Rs.300p.m. in addition to a commission of 5% on net profits
remaining after charging such salary and commission. With effect from 1 April 2019 C is
admitted as a partner with 1/5 share but it is agreed that any additional income which
comes to Cover what he was getting as manager should come out of A's share. The profits
for year ended 31 March 2020 were Rs.49,800 before charging C's salary and commission
Prepare the Profit and Loss Appropriation Account.
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