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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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Answer Particulars To Interest on Capital X Y Z Amount 50000 50000 25000 Particulars By Profit and L...
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Essentials Of Business Statistics Communicating With Numbers
Authors: Sanjiv Jaggia, Alison Kelly
1st Edition
78020549, 978-0078020544
