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Triphati and Chauhan are partners in …

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Triphati and Chauhan are partners in a firm sharing profits and losses in the ratio of 3:2.Their capitals were Rs.60,000 and Rs.40,000 as on January 01, 2005. During the year they earned a profit of Rs.30,000.According to the partnership deed both the partners are entitled to Rs 1,000 per month as salary and 5 % interest on their capital .They are also to be charged an interest of 5 % on their drawings , irrespective of the period , which is Rs .12,000 for Tripathi, Rs.8,000 for Chauhan.Prepare Partner's Accounts when, capitals are fixed In this question why appropriation a/c is not prepared???

Posted by Sushil Chauhan 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Sourabh Yadav 6 years, 10 months ago

If you want to prepare then you first prrpare appropriation A/c ?

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