Question

PARTNERSHIP ACCOUNTS
PROFIT AND LOSS APPROPRIATION ACCOUNT
34.) Mr. P, Mr. Q and Mr. R are partners in a firm sharing profits in the ratio of 2:2:1. On 14.15, the balance
of capital accounts of partners : Mr. P40,000 ; Mr. Q50,000 and Mr. R330,000.
The net profit of the firm for the year ended on 31.3.16 was * 51.000.
You are required to prepare the Profit and Loss Appropriation Account for the year ended on 31.3.16 by
taking into consideration the following information:
Mr. P is entitled to a salary of 1,000 per month.
Mr. R is entitled to receive commission of 5,000.
w Interest on opening capital is to be allowed @ 5%.
[WB HS '13 - Adapted]
C*
1.
.solve the calculation the math​

Answer 1

Answer:

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