Question

Profit and Loss Appropriation Account
13. Vinod and Mohan are partners. Vinod's Capital is * 1,00,000 and Mohan's Capital is 60,000. Interest on
capital is payable @ 6% pa. Vinod is to get salary of 3,000 per month. Net Profit for the year is 80,000
Prepare Profit and Loss Appropriation Account

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Answer 1

Answer:

profit and loss Appropriation account

particular. amt. particular. amt

Interest on. profit &,loss. 80000

capital

Vinod. 6000

Mohan. 3600

Vinod'salary. 36000

divisble profit

vinod. 17200

Mohan. 17200

Total. 80000. Total. 80000

Explanation:

As orofit sharing ratio is not given in question we assume it equal.

Answer 2

Explanation:

salary of vinod=3000×12=36000