yadu, vidu and Radhu were partners in a firm sharing profits in the ratio of 4:3:3. Their fixed capitals 1st April, 2018 were 9,00,000, 5,00,000 and 4,00,000 respectively. On 1st November, 2018, Yadu got a loan of 80,000 to the firm, as per the partnership agreement.
() 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. Partners 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.
Answers
Answered by
24
Answer:
Hope this will help you. In this question net profit is given that is 253000 and it is given after interest on yadu's loan so we will consider this as net profit
Attachments:
Similar questions