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Astha and Gomti are partners in …

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Astha and Gomti are partners in a firm sharing profits and losses in the ratio of 2: 1. Their capital accounts as on 1st April, 2021 stand at ₹70,000 and 30,000 respectively. The partners are allowed interest on capital @ 10% p.a. The drawings of the partners during the year ended 31st March, 2022 amounted to ₹4,800 and ₹3,600 respectively. Interest is charged on drawings at the rate of 10% p.a. Astha has given a loan to firm as on 1st November, 2021 of 20,000. The profit of the firm before above adjustments was ₹80,000. 10% of this profit is to be kept in a Reserve Account. Prepare Profit and Loss Appropriation Account. 500000 and Computers for ₹500.000 from

Posted by Prisha Modi 5 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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