Ram, Shyam and Gopal are partners in a firm, sharing profits and losses in the ratio of
2:1:1 with capitals of 28,800; 19,200 and 14,400 respectively on which interest
@ 5% per annum is payable. Gopal gets salary of 7,200 per annum and Shyam gets
commission on gross sales @ 3%. The firm showed profit of * 27,600. Gross sales
amounted to 3,36,000, interest on drawings was 192; 240 and 288 respectively.
Prepare Profit and Loss Appropriation Account.
[ Ans. Share of Profit : Ram 3,960 ; Shyam 1,980 and Gopal 1,980 ]
Amrit
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