Q. 81. D, E and F were partners in a firm sharing profits in the ratio of 5:7:8.
Their fixed capitals on 1st April, 2015 were D 85,00,000, E 7,00,000 and
F 78,00,000. Their partnership Deed provided for the following:
(1) Interest on capital @10% p.a.
(ii) Salary of 10,000 per month to F.
(iii) Interest on drawing @ 12% p.a.
D withdrew 40,000 on 30th April, 2015; E withdrew 350,000 on 30th June 2015
and F withdrew 30,000 on 31st March, 2016.
During the year ended 31st March, 2016 the firm earned a profit of 33,50,000.
Prepare the Profit and Loss Appropriation Account for the year ended 31st March,
2016.
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