Accountancy, asked by himanshu4621, 11 months ago

IWDLL POLL
VUUTU
.
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which has not been withdrawn.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'

Answers

Answered by paramount18

1

Too long question. Error!!

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