Jai and Chulbul were in partnership sharing profits and losses in the ratio of 2 : 1. They decided to admit Bajrangi their manager, as a partner giving him 15 th share of profit. Bajarangi, while a manager, was receiving a salary of Rs 25,000 per annum plus a commission of 10% of the net profits after charging such salary and commission. It was also decided that any excess amount Bajarangi receives as a partner (Over his salary and commission ) will be borne by Jai and Chulbul equally. Profit for the year amounted to Rs 3,22,000 before payment of salary and commission. Prepare a Profit and Loss Appropriation Account. OR From the following information of Mr. Shailendra, Mr. Vikas and Mr. Jatin, fill the missing figures. BALANCE SHEET as at 31st March, 2015 LiabilitiesAmountAssetsAmount(Rs)(Rs)Creditors35,000Cash20,000Capital−Debtors40,000Shailendra50,000Bank Balance20,000Vikas70,000Plant and Machinery50,000Jatin40,000Investment25,000General Reserve20,000Building50,000Profit and Loss25,000Goodwill30,000Workmen Compensation Reserve15,000Prepaid Expenses5,000Provident Fund10,000Advertisement Expenditure8,000Investment Fluctuation Fund5,000Furniture22,0002,70,0002,70,000 Mr. Ruchir is admitted. Dr. REVALUATION ACCOUNT Cr. ParticularsAmountParticularsAmount(Rs)(Rs)To Provision for Debts4,000By Building−To Provide Expenses2,000By Investments−To Provident Fund5,000By Plant and Machinery−To Workmen Compensation Reserve5,000To Profit− Total− Total− CAPITAL ACCOUNT ParticularsShailendraVikasJatinRuchirParticularsShailendraVikasJatinRuchirGoodwill−−−−By Balance b/c50,00070,00040,000−To Advertisement−−−−By General Reserve−−−− ExpenditureBy Profit and Loss−−−−To Balance c/d−−−−By InvestmentFluctuationReserve−−−−By Revaluation A/c6,0003,6002,400By Bank−−−−By Premium forGoodwill7,5004,5003,000− Total88,50093,10055,40070,000Total88,50093,10055,40070,000By Balance b/d69,50081,70047,80070,000To Current A/c−−−−By Current A/c−−−−To Balance c/d−−−−Total−−−−Total−−−− BALANCE SHEET as at 1st April, 2015 LiabilitiesAmountAssetsAmount(Rs)(Rs)Creditors35,000Cash20,000Capital A/c:Bank−Shailendra70,000Debtors−Vikas42,000Investment28,000Jatin28,000Building60,000Ruchir70,000Plant and Machinery65,000Current A/c:Prepaid Expenses3,000Vikas−Furniture22,000Jatin−Shailendra's Current A/c−Provident Fund−Workmen Compensation Reserve− Total− Total−