Question

-ccount
O Appropriation Account and Partners Capital
(C.B.S.E., Sample Paper 2017-18) [6 Marks)
profit sharing ratio
*. (Omission of Interest, Salary, Commission and error in
A, B and C were partners in a firm. Their capitals were A30,000, B20.000
interest on capital @ 5% p.a. In addition, B was also entitled to draw a salary of
500 per month C was entitled to a commission of 5% on the profits after charging
e interest on capital, but before charging the salary payable to B. The net profits
to the year were 30.000 distributed in the ratio of their capitals without providing
any of the above adjustments. The profits were to be shared in the ratio 2:2:1
Pass the necessary adjustment entry showing the working clearly. (C.B.S.E., 2010)
24C10,000 respectively. According to the partnership deed, they were entitled​

Answer 1

Answer:

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