ted Apel and Lawer are in partnership, sharing profits and losses in the ratio 3:2.itQUESTIONS6 Question OneThe following information were taken from their books for the year ended 31December 2015, before the completion of their profit and loss appropriationnt.account.anGH¢Current accounts (1 January 2011)ApelLawer640 (Dr)330 (Cr)Drawings - Apel3,0002,000Lawer6,810Net Profit540Interest on Capital - ApelLawer7202,000Salary - ApelInterest on Drawings - Apel270180LawerPrepare for the year ended 31 December 2015:a. The profit and loss appropriation account of Apel and Lawer.b. The current accounts in the ledger for Apel and Lawer.

The Profit and loss appropriation account in partnership is prepared to adjust the profits and…

it QUESTIONS Question One ted Apel and Lawer are in partnership, sharing profits and losses in the ratio 3:2. The following information were taken from their books for the year ended 31 December 2015, before the completion of their profit and loss appropriation nt. account. art GH¢ Current accounts (1 January 2011) 640 (Dr) 330 (Cr) 3,000 2,000 Apel Lawer Drawings - Apel Lawer 6,810 Net Profit 540 Interest on Capital - Apel Lawer 720 2,000 Salary - Apel Interest on Drawings- Apel 270 180 Lawer Prepare for the year ended 31 December 2015: a. The profit and loss appropriation account of Apel and Lawer. b. The current accounts in the ledger for Apel and Lawer.

it QUESTIONS Question One ted Apel and Lawer are in partnership, sharing profits and losses in the ratio 3:2. The following information were taken from their books for the year ended 31 December 2015, before the completion of their profit and loss appropriation nt. account. art GH¢ Current accounts (1 January 2011) 640 (Dr) 330 (Cr) 3,000 2,000 Apel Lawer Drawings - Apel Lawer 6,810 Net Profit 540 Interest on Capital - Apel Lawer 720 2,000 Salary - Apel Interest on Drawings- Apel 270 180 Lawer Prepare for the year ended 31 December 2015: a. The profit and loss appropriation account of Apel and Lawer. b. The current accounts in the ledger for Apel and Lawer.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject- accounting
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