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ashush and akash are partmers sharing …

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ashush and akash are partmers sharing profit in the ratio 3:2 their capital accounts showed a balance of 500000 and 600000 respectively as on 31 march 2018 after debit of drwaings during the year of 150000 and 100000 respectively. net profit for the year ended 31 march was 500000. ioc is to be allowed 10%p.a. prepare p and L appropriation account.

Posted by Ram Gupta 6 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Diwanshi Nimje 6 years, 7 months ago

find opening capital of the partners by adding drawing to the net profit then find ioc on it and put the values in p &l appro then distribute the remain profit in 3:2 ratio

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