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Arvind and Anand are partners sharing …

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Arvind and Anand are partners sharing profits and losses in the ratio 8:3:1. Balances in their capital account on April 01, 2019 were, Arvind- Rs.4,40,000 and Anand Rs.2,60,000. As per their agreement, partners were entitled to interest on capital@ 5% p.a. and interest on drawings was to be charged @ 6% p.a. Aravind was allowed an annual salary of Rs. 35000/- for the additional responsibilities taken up by him. Partners drawings for the year were, Aravind Rs. 40,000 and Anand Rs. 28,000. Profit and loss account of the firm for the year ending March 31, 2020 showed a Net Loss of Rs. 32,400. Prepare Profit and Loss Appropriation Account.

Posted by Riddhi Paruparla 2 years, 6 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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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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