Question

X and y are partners which capital of rupees 100000 and 80,000 actively following where the terms of their agreement a devil sharing profit in dishi 3.23 ratio 2 and be interested is allowed on capital @ 10% PSC interested charge on drawing 6% a p a the following drawing of X and Y worth Rs 15,000 each during the year salary to be prepared to Y @ 1500 per month profit for the year ending 31st March account 2017 was 72000 prepare Profit and Loss appropriation account and current account of X and Y

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