detouub -

BAIC ONCEnAXTimf'}
Pantner sop ? O ARKS 2S
Rulen t h e aksence f (Pastnesship Derd
9) supta and Singh were partaers ip a fiqm, Their ixed, capitals were
Jain400,000, Gupta 76,00,000 ànd'Singh'10,00,000.THeý weré sharing profits
inthetatiö of thelr capitäls. The tiri Was éngaged in?the processing and
distribution of flavoured milk. The partnership deed pIovided fo interest on
Ncaptaat 10% për annuih Durihg tie yeaf ended 31st Mârth, 2014' the firmm
earned'å profit of 1,47,000.
Showing your working'nbtès clearly, prepare profit and loss appropriation account
of the fim.

3 M and N werepartnersin tim sharing ptotits in the rätio of3:4:5. ieir fixed
capitals were LR 4,00,000, M7 5,00;000 and N R6,00,000 respectively. ne
partnership deed pQvided-for the follawing
i)Interest on capitak@ 6%peännun.
(i) Salary of 30,000 pèr annum to N.
ii) Interest dn partneris
drawings willt be charged @12%°per annum.
During the year ended 31st March, 2008 the firm earned a profit of 2,70,000.
L withdrew 10,000 on 1st April, 2008, M withdrew 12000 on 31st September,
2008 andN withdrew 15,000 on31st-December2008
Prepare
2009.
proft and loss
approprntiop. arcoupt for. ths year ended 31st March,
A and B are partners iñ a firm sharing profit and losses in the ratio of 3 2. The
was the balance sheet of the firm as at 31st March, 2010.
olowing
Balance Sheet
as at 31st March, 20110

Liabilities Amt () Assets Amt(

Capital Acs Sundry Assets 80,000
60.000
20,000 80,000
80,000 80,000
The profits 30,000 for the year ended 31st March, 2010 were divided between
the partners without allowing interest on capital @ 12% per annum and salary ta
A@R 1,000 per month. During the year, A withdrew 10,000 and B7 20;000.
Pass the necessary adjustment joumal entry and show your working clearly.

'.A.B and C were partners in a fim. On 1st April, 2008, their fixed capitals stood at
50,000, 725,000 and 7 25,000 respecively.
As per the provisions of the partnership deed
) B was entitled for a salary of 5,000 perannym.
(i) All the partners were entitled to interest.on capital at 5% per annum.
(iii) Profits were to be shared in the ratio of capitals.
The net profit forthe year ending 31st March, 2009of 33,000 and
31st March, 2010 of7 45,000 was divided equally without providing for the above
terms
Pass an adjustment journal entry to rectify the above error.

6/ Mkesh and Ramesh are partners shanng profits a d losses in the

fespectively. They admit Rupesh as a partner with 1/4 sharé in prónits ith
ratio .of 21
guarantee that his share of profit shall be. atleast ? 55,000. The net proit ofthe firm
for the year ending 31st March, 2013 was ? 1,60,000. Prepare profit and loss
approprnation account. A

1 Dihngish etseen FRnctrakrg E ked apibs