Question 45 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 45 Chapter 2 of +2-Part-1

45. (Profit and loss appropriation a/c) A and B are partners sharing profits in the ratio of 3:2 with capital of Rs.25,000 and Rs.15,000 respectively. Interest on capital is allowed @6% p.a. B is allowed salary of Rs.1250 per annum. During 2018, the profits of the firm prior to calculation of interest on capital but after charging B’s salary amounted to Rs.6.250. A provision of 5% of the profits is to be maintained in respect of managers’ commission. Prepare Profit and Loss Appropriation Account.

The solution of Question 45 Chapter 2 of +2 Part-1: – 

Thanks, Please Like and share with your friends  

Comment if you have any questions.

Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication