X ACCOUNTANCY CLS 12 ae50c855d8c0dbc1b5729621ad629ac7.pat - Adobe Acrobat Reader DC File Edit View Sign Window Help Home Tools DisplayStatement.pdf ACCOUNTANCY CI... X Sign In 3 / 9 138% - ? Search 'Measure D. Export PDF Adobe Export PDF Convert PDF Files to Word of Excel Online 17. Manasa and Jhansi are partners. Their Partnership deed provided the following: i. Manasa will be allowed a salary of 4,000 per month. ii. Jhansi who manages the sales department will be allowed a commission of 10% of the net profit after charging Manasa's salary. 7% p.a interest is allowed on their fixed capitals. iv. 5% p.a interest will be charged on partner's annual drawings. Their capitals were Manasa *1,00,000 and Jhansi * 80,000. Their annual drawings were 16,000 and 14,000 respectively. The net profit for the year ending 31 * March 2020 amounted to 4,00,000 (after charging 10% interest on Manasa's Loan) Manasa has given a loan of 30,000 at 10% p.a interest. vi. While the accounts were prepared, Jhansi was instructing the accountant to allow only 6% p.a interest on Manasa's loan. Also Manasa wanted the profits to be divided in 5:4 ratio which led to the dispute while preparing the accounts. The accountant seeks your help. You are required to suggest and resolve the issues and prepare Profit & Loss Appropriation Account. Select PDF File ACCOUNTA...29c7.pdf V. Convert to Microsoft Word (.dood Document Language: English (US) Change Convert (OR) 2 Edit PDF Create, edit and sign PDF forms & agreements Tree 7-Day Trial Type here to search o 4) ENG 12:13 AM 18/12/2020 19