Accountancy, asked by anitashah1604, 1 year ago

<,000. Balances 01 Capital Accounts . 11.b,uvu sveV Q. 8. Asha and Lata are partners sharing profits in the ratio of 1:2. Asha is entitledto a salary of 2,00,000 p.a. and a commission of 8% of net profit before charging anycommission. Lata is entitled to a commission of 8% of net profit after charging hercommission. Net Profit for the year ended 31st March, 2018 amounted to 35,40,000.Prepare Profit & Loss Appropriation Account.[Ans. Share of Profit: Asha 385,600 and Lata 1,71,200.]​

Answers

Answered by Anonymous
34

No thanks only blessing of class 12.

note.

at last a and b is lata and asha correct it.

Attachments:
Answered by gunjanbaidyasl
1

Answer:

Profit transferred to-

Asha's Capital A/c   85,600

Lata's Capital A/C    1,71,200

Explanation:

Calculation of Asha's Commission :

Asha is entitled to receive commission of 8% before charging any commission.

Asha's Commission = Net Profit X Rate/100

                                = 5,40,000 X \frac{8}{100} = 43,200

Calculation of Lata's Commission :

Lata is entitled to receive commission of 8% after charging any commission.

Lata's Commission =  Net Profit X Rate/(100 + Rate)          

                               = 5,40,000 X  \frac{8}{100 + 8} = 5,40,000 X \frac{8}{108} = 40,000.

Profit transferred to-

Asha's Capital A/c   85,600

Lata's Capital A/C  1,71,200

#SPJ3

Attachments:
Similar questions