Question

Ranveer and deepika are partners sharing profit & loss equally . On 1-1-19 their capital accounts should balance of rupees 20,000 and rupees 16 ,000 respectively. whereas current accounts showed a credit balance of rupees 30,000 and debit balance of rupees 1,000 respectively .interest on capital was to be given 10% . Both the partners had drawn rupees 3,600 during the year. profit of the firm before interest on capital was rupees 12,987 . manager has to be given 5% on profit after charging such commission . Prepare P&L App. A/C and current a/c from the information given above

Answer 1

Answer:

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