Question

a b and c are partners with a fixed capital of 200000,100000 and 50000 respectively. they share profit upto 36000 in their capital ratio and rest in equal proportion. A advance 50000 as loan. the partnership deed provided as under: (a) interest on capital at 5% per annum and interest on drawing @3%. (b) drawing of partner were 20000 each. (c) B was entitled to rent @1000 per month for providing his premises to the firm. (d) C was entitled to commission of 5% on net profit after charging his commission. the net profit before these adjustments for the year ending 2019 was 99000 assuming that current account balance pf partners were A 5000(cr.) B 4000(cr.) C 3000(dr.) prepare profit and loss appropriation , capital account and current account of the partners

Answer 1

Answer:

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