Question

(C). L, M and N were partners in a firm sharing profits in the ratio of 3.4.1
Their fixed capitals were L-4,00,000, M-5,00,000 and N-36,00.000
respectively. The partnership deed provided for the following:
(i) Interest on capital @ 6% p.a.
(ii) Salary of 30,000 p.a. to N
(iii) Interest on partner's drawing will be charged @ 12% p.a.
During the year ended 31-3-2009, the firm earned a profit of 2,70,000.
L withdrew 10,000 on 1-4-2008, M withdrew 12,000 on 30-9-2008
and N withdrew 15,000 on 31-12-2008.
Prepare Profit and Loss Appropriation Account for the year ended
31-3-2009.
(C.B.S.E., 2010-A1-C)
LA
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Answer 1

Explanation:

the above is the answer