Question

(a) Ram. Shuam. Mohan are in partnership sharing profits in two-fifth, two-fifth and one-fifth and through half year ended 31 December, 2018 their capital account have remained unchanged at 60,000,

and 30,000 respectively.

Their current account balances on 1 July, 2018 ter

Ram

Shyam

Mohan

* 8.550 (Dr.)

€6,550 (Dr.)

12,000 (Cr.)

During 2018, Mohan withdrew 200 at the beginning of each month, Shyam withdrew 400 at each month while Ram withdrew 1,800, during the period of six month.

Their partnership deed provides that

(a) Partners are allowed interest on capital 5% pu

(8) Partners are allowed or charged interest on current balances 4% pa (c) Interest on drawings p..

(d) Shyam is entitled to a salary of 500 per month

Mohan is entitled to a commission of 5% of the correct net profit of the firm

Ram is entitled to a commission of 5% of the correct net profit of the firm after charging such

During the half year ended 31 December, 2018, the net profit salary which had been debated to tages and salaries account.

the n

of the firm us 2,07,000 after charging S

You are required to prepare profit and loss appropriation account of the firm​

Answer 1

Answer:

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