Q. 21 Amal and Bimal are partners of a firm sharing profits in the ratio of 4:1 respectively. On
1st April 2009 their capital stood at Amal Rs. 50000 and Bimal Rs. 40000. The firm earned a
net profit of Rs. 175000 in the year ended on 31st March 2010. Draw the profit and loss
appropriation account for the year ended 31st march 2010 after considering the following
items:
Interest.on capital at 5% p.a., interest at 6% p.a. on Bimal's loan (to the firm) of Rs. 50000;
interest on partners drawings at 6% p.a.; the drawings being Amal Rs. 15000 and Bimal Rs.
10000.
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Answer:
325626374774664
Explanation:
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