elavarasan and amudharashan are partners with capitals rs.1,50,000 and rs.1,00,000 respectively on 1st april 2004.the trading and profit for for the year ended 31st maech, 2005 was rs.60,000. intrest on capital is to be allowed at 6% per annum. amudharashan entitled to a salary of rs.15,000 per annum. the drawings of the partners were elavarasan rs.1,50,000 and amudharahan rs.10,000. the interest of drawings are elavarasan rs.500 and amudharasan rs.250.assumin that elavarasan and amudharasan are equal partners. prepare the profit and loss appropriation account as on 31st march, 2005.
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manikarnika99:
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