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X and Y are partners with …

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X and Y are partners with capital of ₹100000 and ₹80000 respectively on 1st April 2016 and their profit sharing ratio is 2:1. Interest on capital is agreed @12%p.a. Y is to be allowed ab annual salary of ₹60000. The profit for the year ended 31st March! 2017 amounted to ₹ 50000. Manager is entitled to a commission of 10%of the profits. Prepare profit and loss appropriation account and capital account.

Posted by Rajkumari Jaiswal 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Aakash Anand 6 years, 5 months ago

Heyy it cant be solved here it needs complete format and then we have to put ioc,net profit,and divisble profit in the debit and credit column of p and l appropriation account

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CBSE > Class 12 > Accountancy

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