Liabilities | Amt (Rs.) | Assets | Amt (Rs.) | |
Reserve and Surplus | 39,000 | Land and Building | 50,000 | |
Contingency Reserve | 10,000 | Plant and Machinery | 40,000 | |
Creditors | 11,000 | Furniture and Fixtures | 20,000 | |
Capital A/cs | Stock | 30,000 | ||
Chiku | 60,000 | Debtors | 40,000 | |
Piku | 50,000 | Bank | 20,000 | |
Riku | 40,000 | 1,50,000 | Profit and Loss | 10,000 |
2,10,000 | 2,10,000 |
Answer:
Profit and Loss Appropriation Account Dr for the year ended 31st March, 2017 Cr
Particulars Amt (Rs.) Particulars Amt (Rs.) To Profit and Loss A/c 10,000 By Net Profit as per Profit and Loss A/c 75,000 To Interest on Capital A/c By Contingency Reserve 10,000 C 7,200 By Reserve (Balancing figure) 9,000 R 6,000 P 4,800 18,000 To Salaries C 18,000 R 12,000 P 6,000 36,000 To Profit Transferred to C's Capital A/c 12,000 R's Capital A/c 12,000 P'S Capital A/c 6,000 30,000 94,000 94,000
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