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A, B and C are in Partnership sharing profits and losses in the ratio of 2:1:1. During the year ending 31 st Dec 2019, the
A, B and C are in Partnership sharing profits and losses in the ratio of 2:1:1. During the year ending 31st Dec 2019, the business made a profit of RO 64,000 before providing
a. Interest on capital : A 2,000, B 1500, C 1000
b. Interest on drawings: A 200, B 150, C 100
c. Salary to Partners A 500 B 700 C 600
d. Commission to Partners A 200 B 300 C 400
Prepare a profit and loss appropriation account to show the distribution of profit among the partners.
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