13.X, Y and Z were partners in a firm. Their capitals on 1.4.2012 were : X Rs.2,00,000; Y Rs.2,50,000 and Z Rs.3,00,000. The partnership deed provided for the following:

(i) They will share profits in the ratio of 2:3:3.
(ii) X will be allowed a salary of Rs.12,000 per annum.
(iii) Interest on capital will be allowed @12% p.a.
During the year X withdrew Rs.28,000; Y Rs.30,000 and Z Rs.18,000. For the year ended 31.3.2013 the firm earned a profit of Rs.5,00,000.
Prepare Profit Loss Appropriation A/c and Partners Capital A/cs.

Hi Aditi, the solution to your query is provided below.
Profit and Loss Appropriation Account
for the year ended March 31, 2013
Dr.     Cr.
Particulars Amount
Rs
Particulars Amount
Rs
Interest on Capital   Profit and Loss A/c 5,00,000
X 24,000      
Y 30,000      
Z 36,000 90,000    
X’s Capital A/c (Salary) 12,000    
Profit transferred to:      
X’s Capital A/c 99,500      
Y’s Capital A/c 1,49,250      
Z’s Capital A/c 1,49,250 3,98,000    
  5,00,000   5,00,000
       
 
Partners’ Capital Account
Dr.                                                                                                                                                                          Cr.
Particulars X Y Z Particulars X Y Z
Drawings A/c 28,000 30,000 18,000 Balance b/d 2,00,000 2,50,000 3,00,000
Balance c/d 3,07,500 3,99,250 4,67,250 Interest on Capital A/c 24,000 30,000 36,000
        P&L App. A/c (Salary) 12,000    
        P&L App. A/c (Profit) 99,500 1,49,250 1,49,250
  3,35,500 4,29,250 4,85,250   3,35,500 4,29,250 4,85,250
               

Moreover, such type of questions are already covered in our study material. Please go through the following link.
https://www.meritnation.com/cbse/class12-commerce/studymaterial/accountancy/partnership-accounts/accounting-for-partnership--basic-concepts/435_2429_5864#slide2_profit-and-loss-appropriation-account

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