Question

. Yadu, Vidu and Radhu were partners in a firm sharing profits in the ratio of 4:3 :3. Their fixed capitais
1st April, 2018 were 9,00,000, 5,00,000 and 4,00,000 respectively. On 1st November, 2018, Yadu gave a loan of 80,000 to the firm, as per the partnership agreement.
(i) The partners were entitled to an interest on capital @ 6% p.a.
(ii) Interest on partners' drawings was to be charged @ 8% p.a.
The firm earned profit of * 2,53,000 (after interest on Yadu's Loan) during the year 2018-19. Partner's drawings for the year amounted to:
Yadu-80,000, Vidu- 70,000 and Radhu-50,000.
Prepare Profit and Loss Appropriation Account for the year ending 31st March, 2019.
(Ans.: Share of Profit: Yadu-61,200; Vidu-45,900; Radhu-45900)
pls give the correct solution.​

Answer 1

Answer:

was to be charged @ 8% p.a.

The firm earned profit of * 2,53,000 (after interest on Yadu's Loan) during the year 2018-19. Partner's drawings for the year amounted to:

Yadu-80,000, Vidu- 70,000 and Radhu-50,000.

Prepare Profit and Loss Appropriation Account for the year ending 31st March, 2019.

(Ans.: Share of Profit: Yadu-61,200; Vidu-45,900; Radhu-45900)

pls give the correct solution.