ger. Prepare an account showing the allocation of profits. 3,160] resp [Ans. Share of profits A 4,740; B 19. On April 1, 2018 John and Robert commenced business as partners with an initial capital of * 20,000 and 30,000 in their respective accounts. The partnership deed provided inter-alia that (i) Profit/loss shall be shared in the ratio of 2: 3 as between John and Robert. (ii) Partners shall be entitled to interest on capital at the commencement of each year at 6% p.a. and (iii) Interest on drawings shall be charged at 8% p.a. During the year ended 31-3-2019 the firm made a profit of 19,280 before adjustment of interest on capital and drawings. The partners withdrew during the year 3,000 each at the end of every quarter commencing from 30-6-2018. You are required to open a profit and loss adjustment account. [ Ans. Net profit to John 6,800; Robert 10,200]