Partners sharing profit ratio in the ratio 3 is to 2 balances as on 1st april 2019 was follows capital account fixed atul is rupees 500000 and mithun is rupees 6 lakh. loan account atul 300000 credit and 200000 debit it was agreed to allow and charge interest rupees @ 8% per annum partnership deed provided to allow interest on capital @ 10% per annum interest on drawing was charged 20 5000 each profit before giving effect on to above was 228000 for the year ended 31st march 2013 prepare profit and loss appropriation account.
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