On 1 January, 2018 B and Center into partnership contributing 2,50,000, Whi 1.30.000 and 1.20.000 respectively and sharing profits and losses in the ratio of Ede 5:3:2. B and Care entitled to a salary of 16,000 and 14,500 respectively per year. Interest on capital is allowed at 5% per annum and 6% p.a. interest is charged on drawings. During the year. A withdrew 7 40,000, B25,000 and C15,000, Interest charged on Drawings : A-2,250, B2 1,125, and C-725. Profit of 2018 before the above mentioned adjustments was 71.400. Prepare Profit and Loss Appropriation A/c and Partners Capital Accounts.
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Answer:
20300
Explanation:
by division method and percentage method
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