Draw up a profit and loss appropriation account for the year ended 31 December 2007

      

Draw up a profit and loss appropriation account for the year ended 31 December 2007
i. Net profits sh30,350
ii. Interest to be charged on capitals: W sh2,000; Psh1,500; H sh900
iii. Interest to be charged on drawings; W sh240; P sh180; H sh130
iv. Salaries to be credited: P sh2,000; H sh3,500.
v. Profits to be shared: W 50%; P 30%; H20%.
vi. Current accounts: balances b/f W sh1,860; P sh946; H sh717
vii. Capital accounts: balances b/f W sh40,000; P sh30,000; H sh18,000
viii. Drawings: W sh9,200; P sh7,100; H sh6,900.

  

Answers

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Titany answered the question on December 10, 2021 at 11:36

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