A and B are partners. A's Capital is Rs.1, 00, 000 and B's Capital is Rs.60,...
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A and B are partners. A's Capital is Rs.1, 00, 000 and B's Capital is Rs.60, 000. Interest on capital is payable @ 6% p.a. B is entitled to a salary of Rs.3, 000 per month. Profit for the current year before interest and salary to B is Rs.80, 000. Prepare Profit and Loss Appropriation Account. A and B are partners. A's Capital is Rs.1, 00, 000 and B's Capital is Rs.60, 000. Interest on capital is payable @ 6% p.a. B is entitled to a salary of Rs.3, 000 per month. Profit for the current year before interest and salary to B is Rs.80, 000. Prepare Profit and Loss Appropriation Account.
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Particulars To Interest on capital A B To Salary to B 300... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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