Question

pulu Akhil as per the agreement.)
17. Nirmal and Pawan are partners sharing profits in the ratio of 3 ; 2. The firm had given loan to Pawan of
35,00,000 on 1st April
, 2020. Interest was to be charged @ 10%p.a. The firm took loan of 32,00,000 from Nirmal
on 1st October, 2020. Before giving effect to the above, the firm incurred a loss of 3 10,000 for the year
ended 31st March, 2021.
Determine the amount to be transferred to Profit and Loss Appropriation Account.​

Answer 1

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Explanation:

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