Plz provide the solution of the 13th question given below
Dear Student
Regards
Profit and Loss Appropriation A/c | |||||||
Date | Particulars | Amount | Date | Particulars | Amount | ||
(Rs) | (Rs) | ||||||
Salary : | Net profit | 28,500 | |||||
X | - | (After Manager's Comission) | |||||
Y | 6,000 | 6,000 | |||||
Interest on Capital @ 5% : | |||||||
X | 4,000 | ||||||
Y | 3,000 | 7,000 | |||||
Profit Transferred (15,500 in 3:2) : | |||||||
X | 9,300 | ||||||
Y | 6,200 | 15,500 | |||||
28,500 | 28,500 |
Computation of Net Profit for Appropriation | |
Net Profit given after Salary of Y | 24,000 |
Add : Salary of Y | 6,000 |
Net Profit | 30,000 |
Less : Provision for Manager's Commission @ 5% on Net Profit | (1,500) |
Net Profit for Appropriation | 28,500 |
Regards