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48. Joy and Bijoy started a …

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48. Joy and Bijoy started a partnership business on 1st April, 2019 bringing a capital of 60,000 and 40,000 respectively. On 1st December, 2019, Bijoy gave a loan of 20,000 to the firm at an interest of 9% per annum. During the year they made a profit of 30,000. The other terms and conditions of the partnership were as follows: (The profits and losses would be shared in the ratio of initial capital, (1) Bijoy would be entitled to a salary 600 per month. () Drawings of the partners were: Joy 6,000; Bijoy 9,000. Show Profit and Loss Appropriation Account
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