Question - 17 

Tripathy and chauhan are partners in a firm sharing profit and loss in the  ration of 3:2 their capitals on 1st January 2021 were Rs. 60,000 and Rs. 40,000 During the year they earned a profit of Rs. 30,000 According to the partnership deed both the partners are entitled to get a salary of Rs. 1,000 every month and 5% interest on their capital. their drawings for the year were Rs. 12,000 for Tripathy and Rs. 8,000 for chauhan on which interest is to be charged @ 5% prepare profit and loss appropriation account and partners capital account assuming that their capitals are fluctuating.

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