Lalan and balan were partners in a firm sharing profit in 3:2 . fixed capitals on 1st april : lalan Rs 100000 and balan Rs 200000 . Interest on capital @15% p.a. profit before all above adjustments is Rs 30000 . Th drawing during the year were Rs 3000 and Rs 5000 respectively . Tge interest on capital be allowed even firm incurs loss. prepare profit and loss approprition account .

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Lalan and balan were partners in a firm sharing profit in 3:2 . fixed capitals on 1st april : lalan Rs 100000 and balan Rs 200000 . Interest on capital @15% p.a. profit before all above adjustments is Rs 30000 . Th drawing during the year were Rs 3000 and Rs 5000 respectively . Tge interest on capital be allowed even firm incurs loss. prepare profit & loss approprition account .

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Lalan and balan were partners in a firm sharing profit in 3:2 . fixed ...

There is a mistake in the question.Interest of drawing is not given.Without interest of drawing, the answer will come wrong.

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Lalan and balan were partners in a firm sharing profit in 3:2 . fixed ...

And loss appropriation account for the year ended 31st March.

Profit and Loss Appropriation Account for the year ended 31st March

Particulars Amount (Rs.)
Profit before all above adjustments 30,000
Add: Interest on Lalan’s capital 15,000
Add: Interest on Balan’s capital 30,000
Less: Drawings by Lalan 3,000
Less: Drawings by Balan 5,000
Profit available for appropriation 67,000

Appropriations:
Transfer to Lalan’s capital account [(3/5) x 67,000] 40,200
Transfer to Balan’s capital account [(2/5) x 67,000] 26,800
Balance carried forward to next year 0
Total 67,000

Lalan’s Capital Account

Particulars Amount (Rs.) Particulars Amount (Rs.)
Balance b/d 1,00,000 Profit transferred 40,200
Interest on capital 15,000 Balance c/d 1,55,200
Less: Drawings 3,000
Total 1,12,000 Total 1,12,000

Balan’s Capital Account

Particulars Amount (Rs.) Particulars Amount (Rs.)
Balance b/d 2,00,000 Profit transferred 26,800
Interest on capital 30,000 Balance c/d 2,56,800
Less: Drawings 5,000
Total 2,25,000 Total 2,25,000

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Lalan and balan were partners in a firm sharing profit in 3:2 . fixed capitals on 1st april : lalan Rs 100000 and balan Rs 200000 . Interest on capital @15% p.a. profit before all above adjustments is Rs 30000 . Th drawing during the year were Rs 3000 and Rs 5000 respectively . Tge interest on capital be allowed even firm incurs loss. prepare profit & loss approprition account . for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Lalan and balan were partners in a firm sharing profit in 3:2 . fixed capitals on 1st april : lalan Rs 100000 and balan Rs 200000 . Interest on capital @15% p.a. profit before all above adjustments is Rs 30000 . Th drawing during the year were Rs 3000 and Rs 5000 respectively . Tge interest on capital be allowed even firm incurs loss. prepare profit & loss approprition account . covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Lalan and balan were partners in a firm sharing profit in 3:2 . fixed capitals on 1st april : lalan Rs 100000 and balan Rs 200000 . Interest on capital @15% p.a. profit before all above adjustments is Rs 30000 . Th drawing during the year were Rs 3000 and Rs 5000 respectively . Tge interest on capital be allowed even firm incurs loss. prepare profit & loss approprition account ..

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