Question

A, B, C and D are partners sharing profits and losses in the ratio of 4:3:2:1. Their

capitals as at 1st April, 2018 were Rupees 60,000; Rupees 50,000; Rupees 30,000 and

Rupees 20,000 respectively.

D’s share of profits excluding interest on capitals has been guaranteed by the firm

to be not less than Rupees 23,000. C’s share of profits including interest on capital

and salary guaranteed by A is not less than Rupees 55,000.

The profits for the year ended 31st March, 2019 were Rupees 1,80,000 before

interest on capital @10% and salary to C @ `2,000 per month.

Prepare Profit and Loss Appropriation Account and distribute the profits.​

Answer 1

Answer:

4,6

Explanation:

4:3::2:1

4×1=4,3×2=6