PARTNERSHIP FINAL ACCOUNTS

41. From the following Trial Balance of Rajini and Kamal, You are required to prepare a Trading and Profit and Loss account for the year ended 31st March, 2014 and Balance sheet as on that date after taking into consideration the additional information. They share profits and losses in their capital ratio.

42. Following is the Trial Balance of Kalavati and Lilavati as on 31st March, 2005 who share profits and losses in the ration of 3:2. Interest on capital was allowed @5% p.a.

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