Ram and Shyam are partners in a firm sharing profits in the ratio of 3:2. On 1st April, 2022, their fixed capitals were ₹3,00,000 and ₹2,50,000 respectively. On 1st October, they decided that their total capital (Fixed) should be ₹6,00,000 in their profit-sharing ratio. Accordingly, they introduced extra capital or withdrew excess capital. The Partnership Deed provided for the following: (i) Interest on capital @ 12% p.a. (ii) Interest on Drawings @ 18% p.a. (iii) A monthly salary of ₹2,000 to Ram and a quarterly salary of ₹4,500 to Shyam. The drawings of Ram and Shyam were as follows: Particulars Ram ₹ Shyam ₹ On 31th September, 2022 On 31st December, 2022 20,000 20,000 15,000 25,000 During the year ended 31st March, 2023, the firm earned a net profit of ₹1,50,000. 10% of this profit was to be transferred to General Reserve. You are required to prepare: (i) Profit and Loss Appropriation Account; (Ii) Partners' Capital Accounts, and Partners' Current Accounts.

 Ram and Shyam are partners in a firm sharing profits in the ratio of 3:2. On 1st April, 2022, their fixed capitals were ₹3,00,000 and ₹2,50,000 respectively. On 1st October, they decided that their total capital (Fixed) should be ₹6,00,000 in their profit-sharing ratio. Accordingly, they introduced extra capital or withdrew excess capital. The Partnership Deed provided for the following:

(i) Interest on capital @ 12% p.a.

(ii) Interest on Drawings @ 18% p.a.

(iii) A monthly salary of  ₹2,000 to Ram and a quarterly salary of ₹4,500 to Shyam.

The drawings of Ram and Shyam were as follows:

Particulars	Ram ₹	Shyam ₹
On 31th September, 2022 On 31st December, 2022	20,000 20,000	15,000 25,000

During the year ended 31st March, 2023, the firm earned a net profit of  ₹1,50,000. 10% of this profit was

to be transferred to General Reserve.

You are required to prepare:

(i) Profit and Loss Appropriation Account;

(ii) Partners' Capital Accounts, and Partners' Current Accounts.

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