Chetan and Ketan are in partnership with capital of 1,50,000 and 1,00,000 respectively. For the year ending 31st December, 2018 they made a profit of 66,000 before allowing interest on capital at 10% per annum, interest on drawings at 12% per annum irrespective of period and salary to Chetan at 1,000 per month. Their drawings during the year were Chetan 24,000 and Ketan 12,000 respectively.Prepare Profit and Loss Appropriation Account and the accounts of the partners as on 31st December, 2018 when (a) the Capital are fixed and (b) the Capital are fluctuating. [Hint: In the absence of profit sharing ratic profits will be distributed equally. Interest on depreciation will be charged for 6 months.]
Answers
Answered by
2
Explanation:
A constitution can be either A constitution can be either unitary or federal. A unitary system is governed constitutionally as one single unit, with one constitutionally created legislature.
...
Distinguish between the Unitary and Federal systems of government.
Federal government Unitary government
Power and responsibilities are shared between national and local levels. Power is placed in one central governing system created legislature.
...
Distinguish between the Unitary and Federal systems of government.
Federal government Unitary government
Power and responsibilities are shared between national and local levels. Power is placed in one central governing system
Similar questions