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k and p were partners in a firm sharing profits in 4:3 ratio. Their capitals on 1.4.2009 were :k ₹80000 and p ₹ 60000. The partnership deed provided as follows :(1) Internet on capital and drawings will be allowed and charged @12%p.a. and 10%p.a. respectively.(2) k and p will be entitled to get monthly salary of ₹2000 and ₹3000 respectively.The profits for the year ended 31.3.2010 were ₹100300. The drawings of k and p were ₹40000 and ₹50000 respectively. Interest on k's drawings was ₹2000 and on p's drawings ₹25000 . prepare profit and loss appropriation account of k and p for the year ended 31.3.2010 assuming that the capitals of the partners were fluctuating

Posted by Anya Jain 2 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Shivani Pal 3 years, 6 months ago

full questions solution please

17Thank You

Yas S 10 months, 2 weeks ago

Divisible profit is 28000which is divided between K 16000 and p12000

15Thank You

ANSWER

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CBSE > Class 12 > Accountancy