Question

IWDLL POLL
VUUTU
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9. (Manager's Commission) X and Y are partners sharing profits in the
ratio 3:2 with capital as 70,000 and 50,000 respectively. Interest on
Capital is allowed @ 6% p.a. Y is allowed an annual salary of * 6,000
which has not been withdrawn. During the year ending 31st March,
2016, profit of the firm before charging interest on capital but after
charging Y's salary amounted to 24,000. A provision of 5% of net
profit is to be made for commission payable to manager.
Prepare Profit and Loss Appropriation Account of the firm.
bofore Y's salary is 30.000, Charge manager'​

Answer 1

Too long question. Error!!