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X, Y and Z are partners in a firm sharing profits in 2:2:1 ratio. The fixed capitals of the partners were: X Rs. 5,00,000;
X, Y and Z are partners in a firm sharing profits in 2:2:1 ratio. The fixed capitals of the partners were: X Rs. 5,00,000; Y Rs.5, 00, 000 and Rs.2, 50, 000 respectively. The Partnership Deed provides that interest on capital is to be allowed @ 10% p.a. Z is to be allowed a salary of Rs. 2, 000 per month. The profit of the firm for the year ended 31st March, 2018 after debiting Z's salary was Rs.4, 00, 000 Prepare Profit and Loss Appropriation. Account.
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Profit and loss appropriation account For the year ended 31st ...
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
7th edition
978-0077632427, 77632427, 78025656, 978-0078025655
