Question

Geeta and Meeta were partners in a firm sharing profits in the ratio of 5:3. Their fixed

capitals were Rs. 3.00,000 and 2.00,000 respectively. The partnership deed provided that:

(a) Interest on capital should be allowed @ 12% p.a.

(b) Meeta should be allowed a salary of Rs. 40,000 p.a. (c) A commission of 5% of the net profit should be allowed

to Meeta. The net profit for the year ended 31.3.2001 was

Rs. 2,00,000.

Prepare profit and loss appropriation account.​

Answer 1

Answer:

this is the answer of question

Answer 2

These the answer of this question with proper commission charged to Meeta