LM and N are partners in a firm sharing profits & losses in the ratio of 2:3on April 1. 2016 their fixed capitals were Rs. 2,00.000 Rs. 300,000 and Rs.4,00.000 respectivelyThe partnership deed provided for the following:Interest on capital 9% per annum.) Interest on Drawings 12% per annumf) Interest on partners loan 12% per annumOn July 1, 2016. L brought Rs. 1,00,000 as additional capital and N withdrew Ra1,00,000 from his capital. During the year LM and withdrew R 12.000, R.18,000 and Rs. 24,000 respectively for their personal use. On January 1, 2017the firm obtained a Loan of Rs.1.50.000 from M. The Net profit of the firm forthe year ended March 31, 2017 after charging interest on Ms Loan wasRs.25.000. Prepare Profit & Loss Appropriation Account and Partners CapitalAccount

LM and N are partners in a firm sharing profits & losses in the ratio

1.	LM and N are partners in a firm sharing profits & losses in the ratio of 2:3on April 1. 2016 their fixed capitals were Rs. 2,00.000 Rs. 300,000 and Rs.4,00.000 respectivelyThe partnership deed provided for the following:Interest on capital 9% per annum.) Interest on Drawings 12% per annumf) Interest on partners loan 12% per annumOn July 1, 2016. L brought Rs. 1,00,000 as additional capital and N withdrew Ra1,00,000 from his capital. During the year LM and withdrew R 12.000, R.18,000 and Rs. 24,000 respectively for their personal use. On January 1, 2017the firm obtained a Loan of Rs.1.50.000 from M. The Net profit of the firm forthe year ended March 31, 2017 after charging interest on Ms Loan wasRs.25.000. Prepare Profit & Loss Appropriation Account and Partners CapitalAccount
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