Question

Q. 18. Radha and Rukmani are partners in a firm with fixed capitals of 2,00,000
and 3,00,000 respectively.
They share profits in the ratio of 1:2. Both partners are entitled to interest on
capitals @ 8% per annum. In addition, Rukmani is entitled to a salary of $20,000 per
month. Business is being carried from the property owned by Radha on a yearly rent
of 1,20,000. Net Profit for the year ended 31st March 2018 before providing for rent
was 5,50,000
You are required to draw Profit & Loss Appropriation Account for the year ended
31st March, 2018
[Ans. Share of Profit transferred to Radha's Current A/c 50,000 and Rukmani's
Current A/c 100,000.]
ti60.40 O 1o​

Answer 1

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