C and D are partners in a firm; C has contributed Rs. 1,00,000 and D Rs. 60,000 as capital. Interest is payable @ 6% p.a. and D is entitled to a salary of 3,000 per month. In 2017-18, the profit was Rs. 80,000 before interest and salary. Divide the amount between C and D.

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Solution

Profit and Loss Appropriation a/c
(for the year ended 31st March, 2018)
Dr. Cr.
Particulars Amount Particulars Amount
To Salary to D
(3000*12) 36000 By profit and loss a/c 80000
To interest on capital:
- C
- D
6000
3600
To Profit transferred to:
- C's Capital a/c
- D's Capital a/c
17200
17200
80000 80000

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Q. C and D are partners in a firm; C has contributed ₹ 1,00,000 and D ₹ 60,000 as capital. Interest in payable @ 6% p.a. and D is entitled to a salary of ₹ 3,000 per month. In the year ended 31st March, 2019, the profit was ₹ 80,000 before interest and salary. Divide the amount between C and D.

A

and

B

are partners. A's Capital is

R s . 1, 00, 000

and B's Capital is

R s . 60, 000

. Interest on capital is payable @ 6% p.a.

B

is entitled to a salary of

R s . 3, 000

per month. Profit for the current year before interest and salary to B is

R s . 80, 000

.
Prepare Profit and Loss Appropriation Account.

Q. A and B are partners A's capital is Rs. 10,000 and B's capital is Rs. 6,000. Interest on capital is payable @ 6% p.a. B is entitled to a salary of Rs. 300 per month. Profit to the year before interest and salary to B is Rs. 8,000. Profits between A and B will be divided:

X and Y are partners. X's capital is Rs 10,000, Y's capital is Rs 6,000. Interest is payable at 6% p.a. Y is entitled to a salary of Rs 300 per month. Profits for current year before charging any interest and salary to Mr. Y is Rs 8,000. Divide the profit between X and Y.

Q. C and D are partners in a firm; C has contributed ₹ 1,00,000 and D ₹ 60,000 as capital. Interest in payable @ 6% p.a. and D is entitled to a salary of ₹ 3,000 per month. In 2017–18, the profit was ₹ 80,000 before interest and salary. Divide the amount between C and D.

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Particulars	Amount	Particulars	Amount
To Salary to D (3000*12)	36000	By profit and loss a/c	80000
To interest on capital: - C - D	6000 3600
To Profit transferred to: - C's Capital a/c - D's Capital a/c	17200 17200
	80000		80000

C and D are partners in a firm; C has contributed Rs. 1,00,000 and D Rs. 60,000 as capital. Interest is payable @ 6% p.a. and D is entitled to a salary of 3,000 per month. In 2017-18, the profit was Rs. 80,000 before interest and salary. Divide the amount between C and D.

Profit and Loss Appropriation a/c (for the year ended 31st March, 2018)Dr. Cr.ParticularsAmount Particulars Amount To Salary to D(3000*12)36000 By profit and loss a/c80000 To interest on capital:- C- D 60003600 To Profit transferred to:- C's Capital a/c- D's Capital a/c 1720017200 80000 80000