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Answers
Answer:
Profit and Loss Appropriation a/c
(for the year ended 31st March,2018)
Dr. Cr.
Particulars Amount Particulars Amount
To Interest on Capital:
- X 50000
- Y 50000
- Z 50000 By Profit and Loss a/c
(after charging Z's salary)
25000
400000
To Profit
transferred to:
- X's Capital a/c 110000
- Y's Capital a/c 110000
- Z's Capital a/c 55000
400000 400000
Profit and Loss Appropriation a/c
(for the year ended 31st March,2018)
Dr. Cr.
Particulars Amount Particulars Amount
To Interest on Capital:
- X 50000
- Y 50000
- Z 50000 By Profit and Loss a/c
(after charging Z's salary)
25000
400000
To Profit
transferred to:
- X's Capital a/c 110000
- Y's Capital a/c 110000
- Z's Capital a/c 55000
400000 400000