A, B and C are partners sharing profits and losses in the ratio 5:3:2. Their capitals as on 1st April 21120 were Rs.30,00,000, Rs. 22,00,000 and Rs. 18,00,000 respectively. As per the Provisions of Partnership Deed: al Interest .10% p.a. is to be allowed on Capitals. 6) Interest on Drawings .10% p.a. and Drawings are Rs. 3,00,000, Rs. 2,00,000 and Rs. 1,00,0011 respectively. c) 20% of Net Profit (after interest on lean)is to be transferred to General Reserve. d) C is entitled to a commission of 1% on turnover and turnover for the year is Rs. 40,00,000. A provided a loan of Rs. 10,00,00 to the firm for whole year. Net Profit for the year ended 31st March 2021 is Rs.I5,60,000 before providing for the abovementioned terms. You are required to prepare Profit and Loss Appropriation Account and Partners' Capital Accounts.
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