Question

Mita,Rita and Sandra were partners in a firm, sharing profits and losses in the ratio of 2:21. Mita sal personally guaranteed that any year Sandra's share of profit, after allowing interest on capital all the partners @ 5% per annum and charging interest on drawings o 4% per annum, would not be less than 10,000. The capitals of the partners on 1st April 2015 were: ta 80,000, Rita 50,000 and Sandra t 30,000. Dhe net profit for the year ended 31st March, 2016, before allowing or charging any interest amounted to 40,000. ta had withdrawn 4,000 on 1st April, 2015, while Sandra withdrew t5,000 during the year. You are required to prepare the Profit and Loss Appropriation Account for the year 2015-16.​

Answer 1

Answer:

I am very very sorry i don't know the answer