Q 1 Ram and Rahim start business with capital of ` 50,000 and 130,000

1.	Q 1 Ram and Rahim start business with capital of ` 50,000 and 130,000 on 1 st January, 2016.Rahim is entitled to a salary of ` 400per month. Interest is allowed on capitals and is charged on drawings at 6% per annum. Profits are to be distributed equally after the above noted adjustments. During the year, Ram withdrew 18,000 and Rahim withdrew 110,000. The profit for the year before allowing for the terms of the Partnership Deed came to 130,000. Assuming the capitals to be fixed, prepare the Profit and Loss Appropriation Account
Answer» EXPLANATION: hgfgdhdgbensbdb usyegshsh

Q 1 Ram and Rahim start business with capital of ` 50,000 and 130,000 on 1 st January, 2016.Rahim is entitled to a salary of ` 400per month. Interest is allowed on capitals and is charged on drawings at 6% per annum. Profits are to be distributed equally after the above noted adjustments. During the year, Ram withdrew 18,000 and Rahim withdrew 110,000. The profit for the year before allowing for the terms of the Partnership Deed came to 130,000. Assuming the capitals to be fixed, prepare the Profit and Loss Appropriation Account

Answer»

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