x &y are partners with capitals of ₹1,00,000 and ₹80,000 respectively on 1st April,2016 and their profit sharing ratio is 2:1. Interest on capital is agreed@12% p.a. Y is to be allowed an annual salary of 6,000.The profit for the year ended 31st March,2017 amounted to₹50,000.Manager is entitled to a commission of 10% of the profits. Prepare profit and loss Appropriation Account and Capital accounts
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