QUESTION: 13
Vinod and Mohan are partners. Vinod’s Capital is ₹ 1,00,000 and Mohan’s Capital is ₹ 60,000. Interest on capital is payable @ 6% p.a. Vindo is to get salary of ₹ 3,000 per month. Net Profit for the year is ₹ 80,000. Prepare Profit and Loss Appropriation Account.
Answer:
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