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Anuj and Bhanu are partners sharing profits in the ratio of 3:2, with capitals of ₹ 50,000 & ₹ 30,000 respectively. Interest on capital is agreed @ 6% p.a. Bhanu is to be allowed a quarterly salary of ₹ 625. Manager is to be allowed commission ₹ 5,000. Anuj has also given a Loan on 01st Oct, 2019 of Rs. 1, 00,000 to the firm without any agreement. During the year 2021-22, the profits earned are ₹ 22,250. Prepare Profit and Loss Appropriation A/?
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Anuj and Bhanu are partners sharing profits in the ratio of 3:2, with ...
Profit and Loss Appropriation for Anuj and Bhanu for the year 2021-22

Calculation of Interest on Capital
- Interest on Anuj's capital = (6/100) * 50,000 = ₹ 3,000
- Interest on Bhanu's capital = (6/100) * 30,000 = ₹ 1,800

Calculation of Salary for Bhanu
- Bhanu's quarterly salary = ₹ 625 * 4 = ₹ 2,500

Calculation of Manager's Commission
- Manager's commission = ₹ 5,000

Calculation of Profit before Appropriation
- Profit before appropriation = ₹ 22,250

Adjustment for Anuj's Loan to the Firm
- Anuj's loan to the firm = ₹ 1,00,000
- Interest on Anuj's loan = (6/100) * 1,00,000 = ₹ 6,000
- Anuj's share of profit before appropriation = ₹ 22,250 x (3/5) = ₹ 13,350
- Anuj's share of profit after appropriation = ₹ 13,350 + ₹ 6,000 = ₹ 19,350

Profit and Loss Appropriation
- Bhanu's share of profit before appropriation = ₹ 22,250 x (2/5) = ₹ 8,900
- Bhanu's share of profit after appropriation = ₹ 8,900 + ₹ 1,800 + ₹ 2,500 = ₹ 13,200
- Anuj's share of profit after appropriation = ₹ 19,350
- Total profit after appropriation = ₹ 13,200 + ₹ 19,350 = ₹ 32,550

Conclusion
- Anuj and Bhanu will share the total profit after appropriation of ₹ 32,550 in the ratio of 3:2 respectively.
- Anuj will also receive interest on his capital of ₹ 3,000 and interest on his loan to the firm of ₹ 6,000.
- Bhanu will also receive interest on his capital of ₹ 1,800 and a quarterly salary of ₹ 2,500. The manager's commission of ₹ 5,000 will be paid out of the total profit after appropriation.
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Anuj and Bhanu are partners sharing profits in the ratio of 3:2, with capitals of ₹ 50,000 & ₹ 30,000 respectively. Interest on capital is agreed @ 6% p.a. Bhanu is to be allowed a quarterly salary of ₹ 625. Manager is to be allowed commission ₹ 5,000. Anuj has also given a Loan on 01st Oct, 2019 of Rs. 1, 00,000 to the firm without any agreement. During the year 2021-22, the profits earned are ₹ 22,250. Prepare Profit and Loss Appropriation A/?
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Anuj and Bhanu are partners sharing profits in the ratio of 3:2, with capitals of ₹ 50,000 & ₹ 30,000 respectively. Interest on capital is agreed @ 6% p.a. Bhanu is to be allowed a quarterly salary of ₹ 625. Manager is to be allowed commission ₹ 5,000. Anuj has also given a Loan on 01st Oct, 2019 of Rs. 1, 00,000 to the firm without any agreement. During the year 2021-22, the profits earned are ₹ 22,250. Prepare Profit and Loss Appropriation A/? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Anuj and Bhanu are partners sharing profits in the ratio of 3:2, with capitals of ₹ 50,000 & ₹ 30,000 respectively. Interest on capital is agreed @ 6% p.a. Bhanu is to be allowed a quarterly salary of ₹ 625. Manager is to be allowed commission ₹ 5,000. Anuj has also given a Loan on 01st Oct, 2019 of Rs. 1, 00,000 to the firm without any agreement. During the year 2021-22, the profits earned are ₹ 22,250. Prepare Profit and Loss Appropriation A/? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Anuj and Bhanu are partners sharing profits in the ratio of 3:2, with capitals of ₹ 50,000 & ₹ 30,000 respectively. Interest on capital is agreed @ 6% p.a. Bhanu is to be allowed a quarterly salary of ₹ 625. Manager is to be allowed commission ₹ 5,000. Anuj has also given a Loan on 01st Oct, 2019 of Rs. 1, 00,000 to the firm without any agreement. During the year 2021-22, the profits earned are ₹ 22,250. Prepare Profit and Loss Appropriation A/?.
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