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A and B are partners. A's …

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A and B are partners. A's capital is 100000 and N'Djamena capital is 60000 .Interest on capital is payable @ 6% p.a. B is entitled to a salary of 3000 per month. Profit for the current year before interest and salary to B is 80000. Prepare Profit and Loss Appropriation Account

Posted by D Jaat Jat 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

Profit and Loss Appropriation Account for the year ending on

Particulars		Amount	Particulars	Amount
To Salary to Y		360	By Profit and Loss A/c(Net Profit)	800
To Interest on Capital:	...
X	60	...		...
Y	36	96		...
To Net Profit transferred	...	...		...
X's Capital A/c	172	...		...
Y's Capital A/c	172	344
	...	800		800

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