Q7.Asha and Lata are partners sharing …

Q7.Asha and Lata are partners sharing profits in the ratio of 1:2. Asha is entitled a salary of 2,00,000 pa and a commission of 8% of net profit before charging any ommission. Lata is entitled to a commission of 8% of net profit after charging her ommission. Net Profit for the year ended 31st March, 2023 amounted to 25,40,000. Prepare Profit & Loss Appropriation Account.

Q7.Asha and Lata are partners sharing profits in the ratio of 1:2. Asha is entitled a salary of 2,00,000 pa and a commission of 8% of net profit before charging any ommission. Lata is entitled to a commission of 8% of net profit after charging her ommission. Net Profit for the year ended 31st March, 2023 amounted to 25,40,000. Prepare Profit & Loss Appropriation Account.

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This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.

• Don't post personal information, mobile numbers and other details.
• Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
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• Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.