Question

A,B and C were partners in a firm having capitals of Rs. 1,00,000; Rs. 1,00,000 and Rs. 2,00,000 respectively. According to the partnership deed the partners were entitled to interest on capital @ 6% p.a. A being the working partner was also entitled to a salary of Rs. 5000 per month. The profits were to be divided as follows:(1) The first Rs. 40,000in the ratio 2:3:5. (2) Next Rs. 80,000 in the proportion of their capitals. (3) Remaining profits to be shared equally. The firm made a profit of Rs. 2,70,000 for the year ended 31st March, 2018 before charging any of the above items. Prepare Profit and Loss Appropriation A/C.
My answer came = 78000, 82000,110000

Correct answer =. 50000, 54000, 82000


Plzz explain me how???
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Answer 1

Hey mate!

Hope this pic helps u...