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Kunal and saurabh are equal partners …

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Kunal and saurabh are equal partners on 1 Jan 2017they capitals where 20000 and 16000 respectively interest on capital is to be allowed 10% per annum from profit prior to division their of the net profit for the year ending 31st December 2017 before allowing interest on capital amated to 9800 and prepare profit and loss appropriation account

Posted by Moli Gupta 1 year, 8 months ago

Chhattisgarh Board > Class 12 > Accountancy

0 answers

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Kunal and Saurabh are equal partners On 1st Jan 2017 their capitals were 20,000 and 16,000 respectively. Interest on capital is to be allowed 10% pa from profit prior to division thereof, the net profit for the year ending 31st Dec. 2017 before allowing interest on capital amounted to 9,800. Pass Journal entries and prepare Profit and Loss Appro priation Account.

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Chhattisgarh Board > Class 12 > Accountancy

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Amit Sumit and Namitha partner sharing profit in the ratio of 3 ratio 2 ratio 1 on 1st April 2018 the decided to share our profit and loss equally on that they there was a credit balance of 220000 in their profit and loss account and balance of Rs 60000 in general reserve record the necessary journal entry in the books on the firms the partner decided to distribute the profit and a general reserve before bringing the new profit sharing ratio into force

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Chhattisgarh Board > Class 12 > Accountancy

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