Profit and Loss Appropriation A/c for the year 2008 & 2009)
Note:
P’s Share of profit in the year 2008 – 60000 x 5/10 = 30000
P’s Share of profit in the year 2009) – 90000 x 5/100 = 45000
Q’s Share of profit in the year 2008 – 60000 x 3/100 = 18000
Less : Guaranteed amount 15000, 3000
Q’s Share of profit in the year 2009) – 90000 x 3/100 = 27000