A and B are partners. The net divisible profit as per Profit and Loss

1.	A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is Rs.2,50,000. The total interest on partner’s drawing is Rs.4,000. A’s salary is Rs.4,000 per quarter and B’s salary is Rs.40,000 per annum. Calculate the net profit/loss earned during the year.
Answer» Net Profit during the year = Divisible profits + Salary to partners – Interest on Drawings = 2,50,000 + 16,000 + 40,000 – 4000 = Rs.3,02,000

A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is Rs.2,50,000. The total interest on partner’s drawing is Rs.4,000. A’s salary is Rs.4,000 per quarter and B’s salary is Rs.40,000 per annum. Calculate the net profit/loss earned during the year.

Answer»

Net Profit during the year = Divisible profits + Salary to partners – Interest on Drawings

= 2,50,000 + 16,000 + 40,000 – 4000 = Rs.3,02,000

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A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is Rs.2,50,000. The total interest on partner’s drawing is Rs.4,000. A’s salary is Rs.4,000 per quarter and B’s salary is Rs.40,000 per annum. Calculate the net profit/loss earned during the year.

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