Question

-ment of
ent
6.1.X and Y are partners sharing profits in the ratio of 2: 1. The undermentioned
trial balance was extracted from their books as at 31st March, 2021 :
es.
Sample Paper
partnership
*
3.20.000
2.40,000
40.000
32.000
Is Capital
Is Capital
I's Drawings
's Drawings
Stock (Ist April 2020)
Purchases and Sales
Debtors and Creditors
12.45.000
48.000
1.52.000
6.00.000
5.900
hership deed
27.500
X wants interest
Bank Overdraft
Salaries to Staff
74.700
26.400
5.000
31.300
18,80,500
He wants a salar
Advertising Expenditure
Tavelling Expenses
18,80,500
bjects it
st on it @ 8%
itled to any sal
(d) X is entitled
You are required to prepare the Profit and Loss Account and Profit and Loss
Appropriation Account for the year ended 31st March, 2021 and a Balance Sheet as
on that date. The following adjustments are to be made:
The value of stock on March 31, 2021 was 64,000.
(in Charge depreciation on Buildings at 10%
ide for outstanding rent 2,400.
titled to a salary​

Answer 1

Answer:

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