Question

Amir, Garib and Chatur are Partne* Their firm earned * 83,000 for the year 2000. Under the firm agreement
Chatur, who has not employed capital is entitled to a salary of 12,000 p.a. and he is also entitled to
commission of 5% on profit (after charging salaries, interest and such commission Interest is allowed on
capital @ 5% per annum. Amir's capital is +60,000 and Garib's capital is * 1,00,000 respectively. It was
further decided that 20% of the remaining profit should be transferred to donation fund and the balance
should be divided equally to Amir and Garib. They have withdrawn 10,000 : * 9,000 and 13,000
respectively
Prepare profit and loss appropriation account, partners capital account and partners current account.
Ins
poft transfer toonital Amir 24000 Garib 24000)​

Answer 1

Answer:

Amir, Garib and Chatur are Partne* Their firm earned * 83,000 for the year 2000. Under the firm agreement Chatur, who has not employed capital is entitled to a salary of 12,000 p. a. and he is also entitled to

commission of 5% on profit (after charging salaries, interest and such commission Interest is allowed on

capital @ 5% per annum. Amir's capital is +60,000 and Garib's capital is * 1,00,000 respectively. It was

further decided that 20% of the remaining profit should be transferred to donation fund and the balance

should be divided equally to Amir and Garib. They have withdrawn 10,000 : * 9,000 and 13,000

respectively

Prepare profit and loss appropriation account, partners capital account and partners current account.

Ins

poft transfer toonital Amir 24000 Garib 24000)