this is in Corporate accounting:

choices:

Question 16 Not yet answered Marked out of 4.00 p Flag question Maryam and Nadya started a partnership business on January 01, 2019 and contributed OMR 40,000 and OMR 35,000 respectively as their capital and decided to share profit and loss in the ratio of 4/6 and 2/6. The partnership deed provided that . Maryam is to be paid a salary of OMR 1,500 per month and Nadya commission of 20% on net profit. It is also provided that interest on capital is allowed at 8 percent per annum and interest on drawing at 6 per cent per annum. The drawings were Maryam OMR 5,000 and Nadya OMR 7,500. The net amount of profit as per profit and loss account for the year 2019 was OMR 75,000. The entry to record the commission of Nadya is The closing balance of Nadya, Capital is The share of Maryam in the partnership net profit is The entry to record the transfer of Interest on Capital to Profit and Loss Appropriation account involves a Debit Commission to Nadya 15,000 Cr.. Debit Profit and Loss Account 18,000... Debit Profit and Loss Appropriatio. Debit Nadya Capital 15,000 Credit Co