Home
Class 12
ACCOUNTS
A and B are partners. According to Profi...

A and B are partners. According to Profit and Loss Account, the net profit for the year is Rs.2,00,000. The total interest on partner's drawings is Rs.1,000. A's salary is Rs.40,000 per year and B's salary is Rs.3,000 per month. The net profit as per Profit nad Loss Appropriation Account will be :

A

Rs.1,23,000

B

Rs.1,25,00

C

Rs.1,56,000

D

Rs.1,58,000

Text Solution

Verified by Experts

Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (iv) Calculation Accounts of Partners (HOTS)|15 Videos
  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (v) Interest on Capital (HOTS)|6 Videos
  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (ii) Partnership Deed (HOTS)|24 Videos
  • ACCOUNTING RATIOS

    DK GOEL|Exercise Multiple Choice Questions (Profitability Ratios)|13 Videos