firm's profit should not be less than 70000 before charging or allowing interest and salary payable. Actual profit of the firm is 64000.
So., what amount of profit should I take in cr. Side of p/l appropriation a/c
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P/l appropriation
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What is the amount of interest and salary?
| Originally posted by : Rachana Jha | ||
 |
firm's profit should not be less than 70000 before charging or allowing interest and salary payable. Actual profit of the firm is 64000.So., what amount of profit should I take in cr. Side of p/l appropriation a/c |  |
Int on capital -21000
Int on drawings-1850
Salary-20000
From 70000 rupees deduct the interest and salary expenses of partners in P/L appropriation account and then the net profit available to partners shall be arrived
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