1.

On 1st April, 2017 'Nitu' and 'Ranu' are partners employing capital of 20.000and 30.000 respectively. On the same day, Nitu gave a loan to the form of 4,000.The profit of that year is 5,240.In the absence of Partnership agreement, prepare Profit & Loss AppropriationAccount as on 31st March, 2018.​

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Explanation:

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