Sudha, Naresh and Geeta were partners in a firm sharing profits and loses in the ratio of 5:3:2. Their capital were 600000,400000 and 200000 respectively. Their partnership deed provided for the following: 1) interest on capital @9% p.a. 2) interest on drawings @12 % p.a. 3) Salary to sudha 30000 per month and to naresh 40000 per quarter. During the year dusha withdraw 50000 at the end of each quarter, naresh withdraw 50000 in th beginning of each half year and geeta withdraw 70000 at the end of each half year. The profit of the firm for the year was 700000. Prepare profit and loss appropriation account.

Dear student 
DATE PARTICULARS AMOUNT DATE PARTICULARS AMOUNT
  TO INTEREST ON CAPITAL:
SUDHA               54000
NARESH            36000
GEETA               18000
108000   BY NET PROFIT  700000
  TO SALARY: 
SUDHA           360000
NARESH         160000
520000   BY INTEREST ON DRAWINGS: 
SUDHA                2250
NARESH              4500
GEETA                 2100
8850
  TO NET PROFIT TRANSFERRED TO: 
SUDHA            40425
NARESH         24255
GEETA            16170
80850      
    708850     708850
  
WORKING NOTES: 
INTEREST ON CAPITALS: 
SUDHA: 600000 X 9/100 = 54000
NARESH: 400000 X 9/100 = 36000
GEETA: 200000 X 9/100 = 18000

INTEREST ON DRAWING: 
SUDHA: IN THE END OF EACH QUARTER= 50000 X 12% X 4.5/12 = 2250
NARESH: IN THE BEGINNING OF EACH HALF YEAR= 50000 X 12% X 9/12 = 4500
GEETA: AT THE END OF EACH HALF YEAR= 70000 X 12% X 3/12 = 2100

SALARY: 
SUDHA: 30000 X 12(MONTHLY) = 360000
NARESH: 40000X 4(QUARTERLY) = 160000

SHARE OF PROFIT: 
SUDHA: 80850 X 5/10 = 40425
NARESH: 80850 X 3/10= 24255
GEETA: 80850 X 2/10= 16170

Regards

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Plz provide the full profit and loss appropriation account
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sudha naresh and geeta

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