AR LILL
1. Elema. Avani and Ambili are partners with fixed capitals of 900,00), 240, di and
210.000 respectively. The balance of current account is on 1-1-2019 were Elen
IA. TD: Ayami Grand Ambili 4000[debit)
Elena advanced a laan of Rs.40.000 on July, 2019. The parnership deed paarided
the following
tal Interest on capital a 'a 5 np.:
{bì Interest on drawings a 6% p.41. Each partner withdrew 2.000 on July 19.
Tel Rs.10.000 to be transferred to general reserve.
{dy Profits and losses to be shared in the proportion of 1:1:1 up la lliu(and above
Rs.100.000 equilly.
(e) Net profit of the firm for the year ended 31-12-2019 before the above adjustmenls
was Rs.230.800. Prepare profit and loss appropriation account, partners' capital
account and curren Tecount.
(8)
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