Question

Q. Hari, Gopal and Ghanshyam are three partners in a firm who share profit in the ratio of 2:1:1. Their capital is 28,800; 19,200 and 14,400 respectively.
Interest on Capital is allowed at 5% p. a. and interest on drawings is charged at 5%
p. a.
In the year 2017-18, before the above mentioned adjustments, firm's profit was
27,600. Interest on their drawings were 192; 240 and 288 respectively.
Prepare Profit & Loss Appropriation Account.

[Ans : Profit : Hari 12,600; Gopal 6,300; Ghanshyam * 6,300​

Answer 1

Answer:

9. Hari, Gopal and Ghanshyam are three partners in a firm who share profit in the

ratio of 2:1:1. Their capital is 28,800; 19,200 and 14,400 respectively.

Interest on Capital is allowed at 5% p. a. and interest on drawings is charged at 5%

p. a.

In the year 2017-18, before the above mentioned adjustments, firm’s profit was

27,600. Interest on their drawings were 192; 240 and 288 respectively.

Prepare Profit & Loss Appropriation Account.

[Ans : Profit : Hari 12,600; Gopal 6,300; Ghanshyam * 6,300]