ABN Shiva partners in the firm …
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ABN Shiva partners in the firm having capitals 60000 60000 and 80000 respectively there current account balance with a 10000 B 5000 and 3000 debit according to the partnership Deedar partners for entitle to the interest on capital at the rate 5% per annum see being the working partner was also entitle to salary of Rupees 6000 per annum the profit for to be divided as follows a the first to 20000 in proportion to their capitals be next 30000 in the ratio of 5:3:2 see the remaining profit to be shared equally the form made a profit of 156000 before charging any of the above items prepare the profit and loss app preparation account and pass necessary journal entry for the appropriatement of profit
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