Question

Raju and Manoj are in partnership sharing
profits and losses in the ratio of 3:2. They decided to
admit Ibrahim, their manager, who belongs to a
weaker section of the society, as a partner with effect
from 1st April, 2015 giving him 1/4th share of profits.
Ibrahim while a manager was in receipt of a salary of
₹27,000 per annum and a commission of 10% of the
net profits after charging such salary and
commission.
in terms of the partnership deed any excess amount
which Ibrahim will be entitled to receive as a partner
over the amount which would have been due to him if
he continued to be the manager would have to be
personally borne by Raju out of his share of profits.
Profits for the year ended 31st March, 2015 amounted
to ₹2,25,000.
You are required to show profit and loss appropriation
account for the year ended 31st March, 2015. Also
identify the values involved.

Answer 1

Hey mates your answer is here

Both calculated 260000 R's.

Answer 2

Explanation:

Here is you answer mate in the above picture . I hope you will be satisfied with the answer