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X and Y share profit in …

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X and Y share profit in the ratio of 3:2. Their Capitals were Rs.50,000 and Rs.30,000 respectively. During the year 2021 their firm earned a profit of Rs.60,000. The following adjustments are to be taken into consideration:- a) Interest on capital at 6% p.a. b) Interest on drawing at 12% p.a. c) Salary to X at Rs.500 p.m. The drawing of X-Rs.2,000 and Y-Rs.5,000 on 31st September 2020. Prepare Profit and Loss Appropriation Account.

Posted by Gaytra Aanjana 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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