A. B and C are in partnership sharing profits and losses in the ratio of 5:3:2....

 

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A. B and C are in partnership sharing profits and losses in the ratio of 5:3:2. On 1 Jan 2020, their capital balances are: RO A 75000 B 45000 C 30000 The terms of partnership provide that: a. All partners are eligible for interest on capital (@5% b. All partners are liable to pay interest on drawings @ 6% c. Partner A is eligible for salary@RO 150 per month The net profit for the year ended 31 December, 2020 before making the above terms was RO 46400, The drawings of the partners were: You are required to prepare: - RO A 6000 B 4000 2000 C L. Profit and Loss Appropriation Account II. Capital accounts of three partners under fluctuating capital method. A. B and C are in partnership sharing profits and losses in the ratio of 5:3:2. On 1 Jan 2020, their capital balances are: RO A 75000 B 45000 C 30000 The terms of partnership provide that: a. All partners are eligible for interest on capital (@5% b. All partners are liable to pay interest on drawings @ 6% c. Partner A is eligible for salary@RO 150 per month The net profit for the year ended 31 December, 2020 before making the above terms was RO 46400, The drawings of the partners were: You are required to prepare: - RO A 6000 B 4000 2000 C L. Profit and Loss Appropriation Account II. Capital accounts of three partners under fluctuating capital method.