X & Y are partners. Given blow is detail of items appearing in their profit and loss appropriation accounts: Particulars X Y Rs. Rs. Interest capital 1600 1800 Interest on drawings 500 400 Remuneration to partners 2000 3000 Share of profit after aboveappropriation 8000 12000 What was the net profit of the firm before appropriation?

Correct Answer is : Rs. 27, 500

CA CPT Model Test Paper 5 with solutions for online practice

Question : 58 of 200

Marks: +1, -0

X & Y are partners. Given blow is detail of items appearing in their profit and loss appropriation accounts:

Particulars	X	Y
	Rs.	Rs.
Interest capital	1600	1800
Interest on drawings	500	400
Remuneration to partners	2000	3000
Share of profit after aboveappropriation	8000	12000

What was the net profit of the firm before appropriation?

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