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107% 3 ILLUSTRATION 9. Mehvishend Kachuh are partners is a fire who share protein in the ratio of 3 2. The Profit and Loss Account of the firm for the seat net is as follows To Opening stock To Purchases To Office salaries To General Expenses a 16 7 6.00,000 By Sales 32,00.000 By Closing stock 10,00,000 By Rent from HP 5.00,000 By Winning from Hone race To Donation to National sports fund 2.00.000 To Interest on Capital @ 16 pa Mehvish 40,000 Kashish 32,000 72.000 To Salary Mchvish Kashish 11.000 120.000 2,6-6.000 4,00.000 $2,000 Th Income Tax To Net Prom 6988000 Additional Informations Closim stock undervalued by 2022 (9General Expenses include Demurrage charpes rund focal 10.000 LIC promo 2000 Mehvish