X, Y and Z are partners sharing profit and loss in the ratio of 1:1:2. On Junuary 200s their capitals were Rs. 50,000, 75,000 und 100,000 respectively. They earned profit of Rs. 87,500 for the vear, Interest on capital 6 is allowed and Z receives a salary of Rs. 2,000 per month. Required: Prepare profit and loss appropriation account. Q.9

X, Y and Z are partners sharing profit and loss in the ratio of 1:1:2. On Junuary 200s their capitals were Rs. 50,000, 75,000 und 100,000 respectively. They earned profit of Rs. 87,500 for the vear, Interest on capital 6 is allowed and Z receives a salary of Rs. 2,000 per month. Required: Prepare profit and loss appropriation account. Q.9

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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