Q. 19. \( A \) and \( B \) are partners sharing profits and loss in the ratio of their capitals which were \( ₹ 6,00,000 \) and \( ₹ 4,00,000 \) respectively on 1 st April 2018. The partnership deed provides that:
(i) Both partners will get monthly salary of ₹ 20,000 each;
(ii) Interest on capital will be allowed @ 8\% p.a.;
(iii) \( A \) will get a quarterly rent of \( ₹ 24,000 \) for the use of his property by the firm. On Ist July, \( 2018 A \) and \( B \) granted loans of \( ₹ 1,00,000 \) and \( ₹ 50,000 \) respectively to the firm. During the year ended 31st March 2019, the firm incurred a loss of \( ₹ 17,250 \) before any adjustment is made as per partnership deed.
Prepare an account showing the distribution of profit/loss.
