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a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq
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a and b share profit and loses in the ratio of 2:1 with capitals of r...
Distribution of Profits
Without any specified agreement, the profits will be distributed in the ratio of their capitals and the interest on loan will be paid separately to partner A. Hence, the distribution of profits will be as follows:
Partner A's share of profit = (2/3) x Rs. 90,000 = Rs. 60,000
Partner B's share of profit = (1/3) x Rs. 90,000 = Rs. 30,000
Interest on partner A's loan = 8% of Rs. 100,000 = Rs. 8,000
Total profit to be distributed = Rs. 90,000 - Rs. 8,000 = Rs. 82,000
Profit and Loss Appropriation Account
Particulars Amount (Rs.) Amount (Rs.)
Profit and Loss Account (Net Profit) 82,000
Less: Interest on loan to partner A 8,000
Net Profit available for appropriation 74,000
Distribution of Profit:
Partner A's share (2/3) 49,333
Partner B's share (1/3) 24,667
Total 74,000
Conclusion
Hence, the profits will be distributed in the ratio of their capitals, and partner A will receive interest on his loan separately. The profit and loss appropriation account will show the distribution of profits among the partners.
Without any specified agreement, the profits will be distributed in the ratio of their capitals and the interest on loan will be paid separately to partner A. Hence, the distribution of profits will be as follows:
Partner A's share of profit = (2/3) x Rs. 90,000 = Rs. 60,000
Partner B's share of profit = (1/3) x Rs. 90,000 = Rs. 30,000
Interest on partner A's loan = 8% of Rs. 100,000 = Rs. 8,000
Total profit to be distributed = Rs. 90,000 - Rs. 8,000 = Rs. 82,000
Profit and Loss Appropriation Account
Particulars Amount (Rs.) Amount (Rs.)
Profit and Loss Account (Net Profit) 82,000
Less: Interest on loan to partner A 8,000
Net Profit available for appropriation 74,000
Distribution of Profit:
Partner A's share (2/3) 49,333
Partner B's share (1/3) 24,667
Total 74,000
Conclusion
Hence, the profits will be distributed in the ratio of their capitals, and partner A will receive interest on his loan separately. The profit and loss appropriation account will show the distribution of profits among the partners.
Community Answer
a and b share profit and loses in the ratio of 2:1 with capitals of r...
I think if partnership deed is silent so a will receive 6%interest on his loan
so profit of
a=90000-(100000×6/100)=84000
84000×2/3=56000
b=84000×1/3=28000
so profit of
a=90000-(100000×6/100)=84000
84000×2/3=56000
b=84000×1/3=28000
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a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy?
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a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy?.
a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy?.
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a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy?, a detailed solution for a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy? has been provided alongside types of a and b share profit and loses in the ratio of 2:1 with capitals of ruppess 400000 and 200000 respectively. show the distribution of profits if the partnership deed is silent and partner A has given ruppess 100000 as loan and demanding 8% interest there on .the profits for the year are ruppess 90000 . prepare profit and loss appropriation accountq Related: Profitability Ratios - Class 12, Accountancy? theory, EduRev gives you an
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