Question - 06 

Alok and Ashok are equal partners in a firms. Their capitals were Rs. 20,000 and Rs. 16,000 respectively. Ashok is entitled to get a salary of Rs. 600 per month. Interest on capital is allowed of 6% P.a. The Profit of that year before making the above adjustment was Rs. 12,000. Prepare Profit & loss Appropriation A/c.

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