Question

Amal and Bimal are partners in a firm sharing Profit & Losses as 3:1. Net profit of the firm during the year ended on 31st March 2019 amounted to Rs 75000.From the following information prepare the Profit & Loss Appropriation Account of the firm.
On 1st April the capital of Amal was Rs 40000 & the Bimal was 30000.
Interest on capital Rs @ 5% p.a.
Drawings during the year : Amal Rs 10000 & Bimal Rs 7500.
Interest on drawings @ 10% p.a.
Annual salaries of partners: Amal Rs 6000 & Bimal Rs 4500.
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Answer 1

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Answer 2

Answer:

61875

Explanation:

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