stration 8 x, y and z are in partnership and during the year 2008 earned $ 1,66,000 as profit. x and y are entitled to interest at 5% p.a. on their capitals of $ 1,20,000 and $ 2,00,000 respectively. z who has no capital in the firm, is entitled to a salary of $ 24,000 p.a. z is also entitled to a commission of 5% on the profits after charging interest, salary and commission. it is further agreed that the residue of profits should be appropriated as to 20% for charity fund and the balance shared equally by x and y. the drawings of the partner's were as follows: x: $ 20,000; y: $ 18,000; z: $ 26,000 prepare p & [ appropriation a/c, and partner's capital a/c's for the year 2008