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Q.2.Yadu, Madhu and Vidu are partners …

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Q.2.Yadu, Madhu and Vidu are partners sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were; Yadu `5,00,000, Madhu `4,00,000 and Vidhu `3,50,000. As per the partnership deed, partners are entitled to interest on capital @ 5% p.a., and Yadu has to be paid a salary of `2,000 per month while Vidu would be receiving a commission of `18,000. Net loss of the firm as per profit and loss account for the year ending March 31, 2020 amounted to `75,000. Prepare profit and loss appropriation account for the year ending March 31, 2020.

Posted by Lucky Sharma 2 years, 5 months ago

CBSE > Class 12 > Accountancy

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Aanshi Mittal 1 year ago

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