Question

Q. 98.IX, Y and Z contribute 3,00,000, 200000
and 1,00,000 respectively by
wa of capital on which they agree to allow interest at 12% p.a. They share profits and
losses in the ratio of 5: 3:2. Profit for the year ended 31st March, 2016 is 260,000
before allowing interest on capitals. Prepare a Profit & Loss Appropriation Account if
(D) partnership deed is silent as to the treatment of interest as a charge or appropriation,
and (ii) partnership deed provides for interest even if it involves the firm in loss.​

Answer 1

Explanation:

• They are sharing profits and losses in the fixed ratio. ... (D) Partnership agreement is for some business. ... Profit before interest on partner's capital was ₹6, 00,000 ...
• They contributed Rs 4,00,000 and 1,00,000 respectively as capital. ... A and B are partners in a firm sharing profits in the ratio of 3 : 2. They ...
• 30,000 respectively. Interest on capital is agreed @ 6% p.a. B is to be allowed an annual salary of Rs. 2,500. During the year profit prior to ...
• Interest on capital is payable @ 6% p.a. B is entitled to a salary of Rs.3,000 per month. Profit ... Prepare Profit and Loss
• Interest on partner's loan is to be given @ 12% p.a. if the ... They agree to share profits in the ratio of 3:2. ... 12. = 7,500. 82,500. Y 5% on Rs. 10,00,000 for 1 year.
• The profit earned by the firm for the year ended 31-3-2007 was Rs. 2 ... X, Y and Z were sharing profits and losses in the ratio of 5:3:2. ... It is agreed that M would retain his original share.Why is Profit and Loss Adjustment Account prepared? ... Numerical Questions | Q 1 | Page 98 ... As per the Partnership agreement, they share the profit in their capital ratio, after allowing ...Profit for the year ended 31st March, 2016 was Rs.15,200. ... Their capital contributions we Rs. 2,00,000 and Rs.1,50,000 respectively.Interest on capital is agreed @ 6% p.a. B is to be allowed an ... Q.3 X and Y are partners sharing profits and losses in the ratio of 3 : 2 with ...

Answer 2

Answer:

please give solution of this numerical