Arun and Barun were partners sharing profits in the ratio of 3 : 2. Their capitals were 50,000 and 30,000 respectively. 


Partnership deed provided for interest on capital @ 6% p.a. to Arun and Barun and quarterly salary of 1,000 to Barun. Arun had given a loan of 1,00,000 on 1st October, 2021 to the firm without any agreement about interest. For the year 2021 22, the profits earned were 26,800.


Prepare Profit and Loss Appropriation Account of the firm for the year ended 31st March, 2022. 

Marks-3, CBSE:2022-23/Zone-3/Set-1/Q-19*

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