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LTE Q24.P and Q are partners withcapitals of Rs.6,00,000 andRs.4,00,000 respectively. The profitand Loss Account of the firm showeda net Profit of Rs.4,26,800 for theyear. Calculate Divisible Profit of thefirm through Profit and LossAppropriation account after takingthe following into consideration:- i.Interest on P's Loan of Rs. 2,00,000to the firm ii. Interest on capital to beallowed @ 6% p.a. iii. Interest on,Drawings @ 8% p.a. Drawings were ;P Rs 80,000 and Q Rs. 50,000. iv. Qis to be allowed a commission on[email protected] 3%. Sales for the year was Rs.10,00,000.10% of the divisibleprofits is to be kept in a ReserveAccount *250,000260,000O 270,000​

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