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A and B are partner with …

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A and B are partner with capital of 100000 and 50000 respectively. on 1st April 2017 the trading profit of the firm for the year before appreciation as per partnership deed was 67500. As per partnership deed they were entitled to: 1)interest on capital @ 9% per annum 2)A to get salary to 1000 per month 3)B to get Commission 10000 4)Drawings of A and B varsh 6000 and 5000 respectively and interest thereon amount rupees 400 and 300 respectively. Show how the profit for the year 2016-17 will be distributed between A and B and also show capital account under: 1) fixed capital 2) fluctuating capital
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