Question

ummission to a Manager
[Hint : Interest on Drawings : Sonu 400, Rajat 3 1,650.)
7 Profit & Loss Appropriation Ale and Partners' Capital Ales
24. A, B and C have capitals of 20,000, 10,000 and 4,000 respectively, on which they are
entitled to interest at 5% per annum. The profit in the year, before charging interest on capital,
amounted to 1,100. Prepare Profit & Loss A/c and Partners' Capital Accounts when interest
on capital is paid and profits and losses are shared equally.
Ans. (i) PL Appropriation A/c Loss 600, (ii) Capital Balance: A 20,800; B10, 300; C 4,000.)
Sonu 24,000, Rajat * 16,000​

Answer 1

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Answer 2

Answer:

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Explanation:

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