Divisible profit = 7,000 + 3,500 = 10,500.
Add appropriations: Interest on capital 2,000 + Salary 1,000 = 3,000. Total = 13,500.
Less interest on drawings 500.
Net Profit from P and L = 13,500 minus 500 = Rs. 13,000.
Calculate net profit as per P & L A/c for the year ending 31 March, 2022 from the following information :
share of profit transferred to Capital A/c's of partners :
Ram Rs. 7,000
Shyam Rs. 3,500
Interest on capital :
Ram Rs. 1,500
Shyam Rs. 500
Interest on Drawings :
Ram Rs. 300
Shyam Rs. 200
Ram's salary Rs. 1,000
Held on 23 Aug 2022 · Verified 13 Jul 2026.
Rs. 13,000
Rs. 13,500
Rs. 12,000
Rs. 11,000
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