Question

According to profit and loss account the net profit for the year is Rs.1,50,000.The total interest on on parters capita is Rs.18000and interest on parteners drawings is Rs.2000.The divisible profit as per profit and loss appropriation account will be.

Answer 1

Answer:

Net profit + Interest on drawing - Interest on capital = Divisible profit

Explanation:

= 1,50,000+ 2,000 - 18,000

Divisible profit as p/loss appropriation account = 1,34,000