x and y are partners with capitals 100000 and 80000 respectively on 1st April 2016 and the profit sharing ratio is to Wish You When interest on capital is agreed on @ 12% per annum why is to be allowed an annual salary of 6000 the profit for the year ended 31st March 2017 amounted 50000 minutes and 22 commission of 10% of profit prepare Profit and Loss appropriation account and capital account
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Ajay and Vijay are partners sharing profit in the ratio 3:2 Ajay is a non working partner and contribute 2000000as his capital. vijay is a working partner of the firm .the partnership deed rovides for interest on capital@8% p.a. and salary to every working partner @8000per month . profit before interest on capital and partners salary for the year ended 31st march, 2019was 80000. show the distribution of profit.
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