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Q2 G, H and R were …

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Q2 G, H and R were partners in a firm sharing profits in the ratio of 7 : 4 : 9. Their fixed capitals were G Rs. 2,00,000, H Rs. 75,000 and R Rs. 3,50,000. Their partnership deed provided for the following (i) Interest on capital @ 9% per annum. (ii) Salary of Rs. 6,000 per month to H. (iii) Interest on drawings @ 6% per annum. During the year ended 31st December, 2009 the firm earned a profit of Rs. 1,70,000. Interest on G’s drawings was Rs. 750, on H’s drawings Rs. 450 and on R’s drawings Rs. 1,250. Prepare profit and loss appropriation account for the year ended 31st December, 2009.

Posted by Md Shoaib 1 year, 8 months ago

CBSE > Class 12 > Accountancy

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