Question

c&d are partners in a firm; c hhas contributed 100000 and d 60000 as capital. interest is payable @6% p.a and d is entitled a salary of 3000 per month. in the year oended31st march 2020,the profit was 80000 before interest and salary
prepare a profit and loss appropriation account

Answer 1

Interest on capital is 6% so according to the question c gets Rs. 6000 and D gets Rs.3600 and profit is distributed equally since Nothing is given