On 1st April 2018 A and B commenced business with Capitals ₹6,00,000 and ₹2,00,000 respectively.On 31 st March 2019 the net profit taking into account the provisions of deed) was ₹2 40,000Interest on capitals allowed at 6% pa B was entitled to a salary of ₹60, 000 paThe drawings partners A and B were ₹60,000 and ₹40 000 respectively.The interest on Drawings A being ₹2,000 and B₹1,000 .Assuming that A and B are equal partners prepare- Profit & Loss Appropriation A/c and Partner's Capital Accounts as at 3lst 2019
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A and B are partners with capitals of Rs. 60.000 and Rs. 20.000 respectively on 1st april , 2018 Net profit (before taking into - acoount the provisions of the Deed for the year ended 31 st March 2019 was Rs. 24.000 the partnershp Deed provides for the following : <br> (a) B is entitled to a salary
The profit for the year ended 31st March, 2018 amounted to Rs 1,80,000. Dispute ... A and B are partners in a firm sharing profits in the ratio of 3 : 2. ... A and B started business on 1st April, 2017 with capitals of ₹ 15,00,000 and ₹ 9,00,000 ...
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Working Notes:
Profit Will be distributed in equal ratio = 1:1
A's Profit = Rs 1,35,000 × 1\2 = Rs 67, 500
B's Profiot = Rs 1,35,000 × 1\2 = Rs 67,5000:
Explanation:
Profit Will be distributed in equal ratio = 1:1
A's Profit = Rs 1,35,000 × 1\2 = Rs 67, 500
B's Profiot = Rs 1,35,000 × 1\2 = Rs 67,5000:
Explanation:
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