Question

pappu and mannu are partners in a firm sharing profit in the ratio of 3 :2 the partners deed provide that pappu wasa to be paid salary of 2,500 per month and mannu was to get commission of 10,000 per year ​

Answer 1

Answer:

Prem and Manoj are partners in a firm sharing profits in the ratio of 3:2. The Partnership Deed provided that Prem was to be paid salary of Rs.2,500 per month and Manoj was to get a commission of Rs.10,000 per year. Interest on capital was to be allowed @ 5% p.a. and interest on drawings was to be charged @ 6% p.a. Interest on Prem’s drawings was Rs.1,250 and on Manoj’s drawings was Rs.425. Capitals of the partners were Rs.2,00,000 and Rs.1,50,000 respectively, and were fixed. The firm earned a profit of Rs.90,575 for the year ended 31st March, 2016. Prepare Profit and Loss Appropriation Account of the firm.Read more on Sarthaks.com - https://www.sarthaks.com/107555/prem-and-manoj-partners-firm-sharing-profits-the-ratio-the-partnership-deed-provided-that

Explanation:

Answer 2

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