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X, Y, and Z are partners in a firm sharing profits in the ratio of 2 : 2 : 1. Fixed Capitals of the partners were: X ₹ 5,00,000; Y ₹ 5,00,000 and Z ₹ 2,50,000 respectively. The Partnership Deed provides that interest on capital is to be allowed @ 10% p.a. Z is to be allowed a salary of ₹ 2,000 per month. Profit of the firm for the Prepare Profit and Loss Appropriation Account.

[Ans: Divisible Profit – ₹ 2,75,000.]

Anurag Pathak Changed status to publish 2 days ago
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