Appropriation Statement for the year ended 30 September 2012

PRE (8/12) POST (4/12)

Net profit : pre (88,236x8/12) , post (88,236x4/12) 58,824 29,412

(-) Interest on capital :

- Eye (10%x100,000x8/12), ( - ) (6,667) -
- Yoo (10%x60,000x8/12) , ( - ) (4,000) -
- Dei (-) ,(-) - -

(-) Salary :
- Eye (-) , (30,000 x 4/12) - (10,000)
- Yoo (24,000x8/12) , (36,000 x 4/12) (16,000) (12,000)
- Dei (-) , (-) - -
-
Net Profit before appropriation 32,157 7,412

Current a/c (profit/loss sharing):

- Eye (2/3) , (1/3) 21,438 2,471
- Yoo (1/3) , (1/3) 10,719 2,471
- Dei ( - ) , (1/3) - 2,471
Partners’ current Statement
E Y D
Bal b/d 60,000 40,000 15,000
Add:
Interest on capital 6,667 4,000 -
Appropriation a/c (profit sharing) 23,909 13,190 2,471
Salary 10,000 28,000 -
Less:
Drawing
Interest on drawing
Bal c/d 100,576 85,190 17,471

*The amount recorded in Partners’ current account is calculated by adding the pre and post
figure
*No salary recorded in Partners’ Current Account because there is no unpaid salary.

#Note:
Partner who retires from the partnership will have no balance c/d in current account. So, the
balancing figure in his/her current account must be transferred to his/her capital a/c. In the
capital account, again the partner will have no balance c/d since he/she is not part of the
partnership anymore. Any balance in the capital account will settled in cash, assets or will be
left as loan to partnership, depend on question.