question_answer

Ayaan and Husna are partners. Ayaan's capital is Rs. 2,50,000 and Husna's capital is Rs. 1,60,000. Interest is payable @ 8% p.a. Husna is entitled to a salary of Rs. 3,000 per month for extra time, she devotes to the business. Profit for the current year before interest and salary to Husna is Rs. 1,00,000. Divide the profit between Ayaan and Husna. Identify the value shown by the firm in allowing salary to Husna.

Answer:

Ayaan's profit as per profit and loss appropriation account = Rs. 15,600 Husna's profit as per profit and loss appropriation account = Rs. 15,600