. Ram and Shyam are partners in a firm sharing profits in the ratio of 3 : 2 On 1st April 2020 their freed capitals were 3 00.000 and 2 50 000 respectively On 1st October they decided that their total capital (Fixed should be 6 00 000 in their profit-sharing. Tatlo. Accordingly they introduced extra capital or withdrew excess capital. The Partnership Deed provided for the following: 6) Interest on capital 12% pa. (11) Interest on Drawings a 18% pa (1H) A monthly salary of 2 000 to Ram and a quarterly salary of 4.500 to Shyam. The drawings of Ram and Shyam were as follows Shyam Particulars Ram ₹ On 30th September 2020 On 31st December 2020 20 000 20 000 15 000 25 000 During the year ended 31st March 2021 the firm earned a net profit of 150 000. 10% of this profit was to be transferred to General Reserve. You are required to prepare: Profit and Loss Appropriation Account: ( Partners Capital Accounts and Partners Current Accounts. `
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