Question

On 1st January, 2016 the balances of capital accounts of A, B and C were ₹10,000, ₹18,000 and ₹15,000 respectively. They decided to make following adjustments before distributing profit and loss:
(1) ₹1000 per months is to be given to A as salary. (2) 10% P.A. interest on capital is to be given to all partners. (3) After adjusting one to three adjustments,10% commission is to be given to A on balance of profit. (4) After adjusting one to four adjustments, ¼ part of balance of profit is to be given to B. (5) Balance of profit is to be divided in 3:2 ratio between A and C. On 31st December, 2016, the profit of the firm was ₹44,900 before above adjustments. Prepare Profit and Loss Appropriation Account of the firm and Partners Capital Accounts.​

Answer 1

Answer:

pleses trion over ok

$22 + 9825 \times = .52$

Answer 2

Answer:

PROFIT AND LOSS APPROPRIATION A/C

particular. ₹. particular. ₹

To interest on. By P&L a/c. 44,900

capital

A= 1000

B=1800

C=1500. 4300

To A's salary. 12000

To commission

of 10% to A. 2860

To B's capital

A/C. 6,435

To Partners a/c

A = 11,583

B= 7,722. 19,305

Total. 44,900. Total. 44,900

PARTNERS CAPITAL A/C

particular A B. C. particular. A. B. C

by capital b/d 10,000 18,000 15,000

by interes. 1000. 1800. 1500

by salary. 12,000

by commission. 2860. 6435

by p&l app. 11,583. 7722