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Partnership deed provided in the following:-
A) interest on capital @10% p.a
B) Interest on Drawings @6% p.a
C) Lalu is entitled from the salary of Rs 1400000 per month.
D) Balu is entitled to a half yearly Rent of Rs 25000.
E) Interest on Capital , salary and rent to a partner must be charged against the profit. During the year ended 31st March 2023. They have earned Net profit of Rs 145900 before adjusting the provisions , prepare P&L Appropriation A/c as on 31st March 2023?
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Partnership deed provided in the following:-A) interest on capital @10...

Profit & Loss Appropriation Account for the year ended 31st March 2023

Net Profit before adjustments: Rs 145900

Calculation of Interest on Capital:

  • Interest on Capital @10% p.a: Rs 145900 * 10% = Rs 14590


Calculation of Interest on Drawings:

  • Interest on Drawings @6% p.a: Not applicable as no information provided about drawings


Salary and Rent to Partners:

  • Lalu's Salary: Rs 1400000 per month * 12 months = Rs 16800000
  • Balu's Rent: Rs 25000 * 2 = Rs 50000


Allocating Interest on Capital, Salary, and Rent:

  • Total to be charged against profit: Rs 14590 + Rs 16800000 + Rs 50000 = Rs 16964590


Profit & Loss Appropriation Account for the year ended 31st March 2023:






















ParticularsAmount (Rs)
Net Profit before adjustments145900
Interest on Capital14590
Salary and Rent to Partners16964590
Net Profit after adjustments(167280) [145900 - 16964590]

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Partnership deed provided in the following:-A) interest on capital @10% p.aB) Interest on Drawings @6% p.aC) Lalu is entitled from the salary of Rs 1400000 per month.D) Balu is entitled to a half yearly Rent of Rs 25000.E) Interest on Capital , salary and rent to a partner must be charged against the profit. During the year ended 31st March 2023. They have earned Net profit of Rs 145900 before adjusting the provisions , prepare P&L Appropriation A/c as on 31st March 2023?
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Partnership deed provided in the following:-A) interest on capital @10% p.aB) Interest on Drawings @6% p.aC) Lalu is entitled from the salary of Rs 1400000 per month.D) Balu is entitled to a half yearly Rent of Rs 25000.E) Interest on Capital , salary and rent to a partner must be charged against the profit. During the year ended 31st March 2023. They have earned Net profit of Rs 145900 before adjusting the provisions , prepare P&L Appropriation A/c as on 31st March 2023? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Partnership deed provided in the following:-A) interest on capital @10% p.aB) Interest on Drawings @6% p.aC) Lalu is entitled from the salary of Rs 1400000 per month.D) Balu is entitled to a half yearly Rent of Rs 25000.E) Interest on Capital , salary and rent to a partner must be charged against the profit. During the year ended 31st March 2023. They have earned Net profit of Rs 145900 before adjusting the provisions , prepare P&L Appropriation A/c as on 31st March 2023? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Partnership deed provided in the following:-A) interest on capital @10% p.aB) Interest on Drawings @6% p.aC) Lalu is entitled from the salary of Rs 1400000 per month.D) Balu is entitled to a half yearly Rent of Rs 25000.E) Interest on Capital , salary and rent to a partner must be charged against the profit. During the year ended 31st March 2023. They have earned Net profit of Rs 145900 before adjusting the provisions , prepare P&L Appropriation A/c as on 31st March 2023?.
Solutions for Partnership deed provided in the following:-A) interest on capital @10% p.aB) Interest on Drawings @6% p.aC) Lalu is entitled from the salary of Rs 1400000 per month.D) Balu is entitled to a half yearly Rent of Rs 25000.E) Interest on Capital , salary and rent to a partner must be charged against the profit. During the year ended 31st March 2023. They have earned Net profit of Rs 145900 before adjusting the provisions , prepare P&L Appropriation A/c as on 31st March 2023? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
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