Question

Rajapa 4 Shivalingapa were partners sharing Profit and losses in the ratio of 3: 2. Their capital were ₹ 80,000 ₹ 60,000 respectively. It was aggred to allow 5% interest on capital per annum. Shivappa in allowed salary of ₹400 per month for the first 8 month & remaining 4 months ₹ 600 per month. During the year rajapa withdraw ₹10,000 and Shivalingapa withdraw ₹ 8000. The profit for the year before adjustment and the above adjustment amouned ₹ 18,600. Prepare Profit and losses appopriation account​

Answer 1

Answer:

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Muskan Goel