Question

Ramesh and Suresh were partner in a firm sharing profit in the ratio of their capital contributor on commencement of business which was 80000 and 60000 respectively the firm started business on April 2017 according to the partnership agreement interest on capital and drawing a 12% and 10% per annum respectively Ramesh and Suresh are to get a monthly salary of 2000 and 3000 respectively the profit for the year ended March 31st 2018 before making above appropriation was 100300 the drawing of Ramesh and Suresh 40000-50000 respectively interest on drawing amounted to 2000 for Ramesh and 2,500 for Suresh prepare profit and loss appropriation account and partners capital account and assuming that their capital is in fluctuating

Answer 1

Answer:

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